NDC will need GH¢119.7bn to fund their manifestos if they win December polls - Danquah Institute
Executive Director of Danquah Institute, Richard Ahiagbah
Executive Director of Danquah Institute, Richard Ahiagbah has averred that the opposition National Democratic Congress (NDC) will need an amount of GH¢119.7 billion to fund their manifesto if they win the upcoming December polls.
Read full articleHe furthered that a total of GH¢29.9 billion would be spent by the NDC to sustain their policies.
In an interaction with the media on Wednesday, November 25, 2020, Mr. Ahiagbah said “our composite analysis based on available data reveals that the NDC will need a total of GH¢119,681,028,960 (approximately GH¢119.7 billion) to fund their manifesto promises over the next four years should they win the 2020 elections...This amounts to GH¢29.9 billion per year.”
He noted that this is not achievable as the NDC would have to resort to borrowing and increasing taxes to run the country.
He also said “Ghana’s projected annual total revenue (domestic revenues and grants) required to sustain the economy over the next three years (2021 – 2023) including the servicing of debts and the funding of flagship policies such as Free SHS, 1D1F and Planting for Food and Jobs is estimated to GH¢83.5billion. In view of the foregoing assessment to raise the GH¢29.9 billion annually to fund its manifesto promises, the NDC has 3 options. These are increase taxes, increase borrowing, scrap existing flagship programme to create fiscal space.”
The country would plunge into destruction if there are no proper financing mechanisms to fund the NDC's manifestos, the Danquah Institute boss added.
“It is our considered view that the implementation of the NDC’s manifesto without proper financing mechanisms would occasion an economic crisis worse than what we experienced under the Mahama-led administration. It will plunge the nation back into the abyss of 'dumsor' and lead to the scrapping of popular programmes such as the free SHS as well as the abolishment of the nursing and teacher trainee allowances," he claimed.
