Sammy Gyamfi highlights lowest point in the 2024 budget

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Sammy Gyamfi
Sammy Gyamfi

, Ghana , the National Communications Officer of the National Democratic Congress (), has voiced his concerns about the 2024 budget presentation, citing what he considers the lowest point.

In a statement to the , Gyamfi criticized the Finance Minister's celebration of Ghana's nominal (GDP) reaching the trillion- mark, stating that it is not indicative of actual growth due to the high .

Gyamfi emphasized the importance of considering real GDP, which accounts for inflation, and argued that the projected nominal GDP of GHS1 trillion lacks positive significance for the worsening livelihoods of Ghanaians.

He pointed out that in a high inflation environment, nominal values may show significant increases, but it doesn't translate into genuine economic growth.

The Communications Officer highlighted historical figures, noting that Ghana's nominal GDP exceeded 19 trillion cedis in 1999 before redenomination and surpassed 100 trillion cedis by 2006.

He further cited the NDC government's achievement of increasing nominal GDP from 17.6 billion cedis in 2008 to 167 billion cedis in 2016 (pre-rebasing).

Gyamfi urged the New Patriotic Party () government to focus on essential economic factors that significantly impact the lives of Ghanaians, emphasizing that the nominal GDP milestone touted by the Finance Minister holds little relevance for ordinary citizens grappling with economic challenges.

He concluded by stating that the government should prioritize the well-being of the people.

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