Former Finance Minister, Kwabena Duffuor, has reiterated his intention to contest for the flagbearership of the National Democratic Congress (NDC), when nominations are opened, describing himself as the leader with the requisite knowledge and experience to lead the party and subsequently salvage the country from the current economic difficulties she is embroiled in.
Interacting with some journalists in the first in a series of engagements with the media Monday in Accra on the state of Ghana’s economy, he said the country’s current economic situation calls for deep commitment and a new leadership approach to address the challenges.
He said, “I believe that a different and new approach is imperative if Ghana is to manage its way successfully from the current economic situation. These problems call for deep commitment and leadership, and I believe that I am the one to fulfil that as such I will pick forms when nominations are opened.”
According to him, Ghana’s economic growth improved tremendously in 2010 as a result of some aggressive economic policies that were initiated by the NDC government in 2009.
This, he indicated, were largely achieved as a result of aggressive policies which were supported by all government appointees, including the President.
Dr. Duffuor stated that most of the economic challenges facing the country in recent times could largely be attributed to large size of government, increased government expenditure in all sectors of the economy, and failure by government to ensure fiscal discipline.
In his view, Ghana would be able to make progress and achieve economic stability as expected if these and many other issues confronting the nation were critically examined to create the fiscal space for economic growth.
He said Ghana’s revenue gap has not been the best over the years due to lack of data on the informal sector, compelling governments over the years to rely largely on the formal sector to mobilise revenue to finance the country’s budget.
He explained that his government would focus more on generating enough revenue from the extractive sector when elected to become flagbearer and subsequently elected as President considering the amount of money that are repatriated by investors to their home countries.
“I believe in partnership rather than the current system where most national resources extracted belonged to foreigners,” he added.
He, therefore, expressed his readiness to make the informal sector one of his priority areas where revenue would be generated for the development of the country.
On his position on some government policies, he touted the Free Senior High School (SHS) policy as a good educational reform that will be continued irrespective of the challenges in its implementation, describing it as “a good policy that need not to be touched.”
He, however, recommended that the Free SHS policy should be reviewed to support only the less privileged in society rather than the current situation where all students were benefiting from the policy even though some parents could afford to pay the fees of their wards.
Touching on corruption, the former Finance Minister said corruption is on the rife due lack of national values and inability of individuals to adhere to certain values that guided people in society on wealth creation.
According to him, people, particularly the young ones, should be educated and sensitised to acquire good values that would not only help in shaping their lives but would also go a long way to guide them when they are eventually appointed into public office.
He added that under his watch when elected as President, he would ensure rules and obligations governing the management of public service institutions were strictly enforced to prevent people from making it an avenue to amass wealth like a private business entity.
