Bawumia's Economic Lecture PT.2 - Newsfile on Joy News (10-9-16)

you're welcome back this news file is your most authoritative news analysis show and here news file we puts Ghana first my guest on the show occurred on Khan also is Erica say CB and could you open Chrome as well as Isaac at the mall now this shirt yeah could you let's let's let's get some of the the points you have made out of the way by way of reaction okay now try a glass possible that I've come today and in many arguments my dad Isaac makes an argument about he doesn't know where we are getting the budget to GDP ratios from you see in this country when one statistics they are your sources as the bank of Ghana there's a statistical service but you should one of the most level sources that you find data form is what what our finance ministry and or out or it is report to the development partners and even for that one you find that they usually have revised data so when you take our budget T is referring to 2009 budget which was read in I think the first quarter of 2009 because of the changing government and they saying that based on that budget that he has cited the debt to GDP ratio asset and 28 was 52% am i right tragic that's his argument I'm telling him that currently the figures be revised figures that are being reported tell us that is 52 percent as a letter and it is relying on that figure and that can be read that budget he knows that those were provision of the visual Putin Asterix at the table day that this is a provisional figure that it will be revised to another number sorry he talks about the city dollar you know to tell deadstock etc and dr. Bonilla has been very clear that listen you cannot or you can choose to do that but here he is of the view that doesn't tell the true picture if you choose to look at the total debt stock of Ghana over the years and you divide by today's exchange rate exchange rate which is as a product of your own management of the economy so assuming that you mess up the forex market and the exchange rate or the city deficits and the exchange rate goes here you're gonna get a lower death figure so if you use that as a measure of whether that is you can't do that but you're deceiving yourself so he prefers another bottle and that's why I start off by saying that you have different models they're important things that you want to look at what the end picture is and most importantly what policy prescriptions you are coming up with my CL talking about the fact that it's about policy choices and I fully agree with him so again if you look at that one of the Bunya keeps saying consistently is that big the deck fielder for the year use the exchange rate for the year and you see that door equivalent as at that time you can do it together years and begin to ask yourself a question that so what has been the filter and therefore has been being useful I don't want to get into too many numbers because at the end of the day like we have said we can agree on point one point two even something as simple as be the deficit figures when you look at the gamma stats car service figures which my am I suspect my friend Jamar to force a friend - yesterday they'll give you a set of figures when you go to the IMF report 1616 published in January 2006 a 2016 you will find that they are giving as these figures those are the revised figure the 12.2 that we are talking about so for me this is the big picture is it true that um the the the size of the economy grew by about four hundred fifty nine percent under the MPP and that has only grown by forty percent under the NDC is it true you say it's not you do you own occupation again it can be true no problem so do your competition and tell us that poky maybe MPP it's good by 200 it's not 459 because you used a different model mu by 200 and RSS Mumbai I'll guide you sometimes 45 you will still see the big picture that with a certain chunk of resource somebody at least the 200 and you've done 45 that is the big argument we are having and we are saying that looking at those trends and those trajectories if you continue on this way to are going to be in trouble right now quickly quickly if you can look at two issues that if money raises a lot of issues that also first come with yes most of us can relate this please you have your time self now in the money's point five they say that the NPP says that make a claim that they brought down the Treasury bill rate we assume he is referring to average 91 day rates from 20 42 percent in early 2001 to 25 percent by the time it left office in 2009 they say this is far better okay he says this is far better than the NDC's performance my amana says this whole line of analysis is a bit contentious in generally 2009 when the NDC assumed office the Treasury bill rate reached a monthly high of 28 percent this is roughly comparable to the rate at the end of 2001 in between 2001 and 2015 the rate has fluctuated quite erratically that the Bamiyan would have to compute complex mean rates variables for the two periods he is comparing rather than try to use two arbitrary points in time to make his point and number two with they say avid lending rate is now about 40 percent which is worse than the situation under the NDC this is the clip and that not one to this it is another claim that is rather hard to ground without complex mean rate analysis over aggregate periods so the question tween money and I'll come to the big picture by money when we used this formula what was the answer we got and that that answer depart from the substance of the argument that dr. Bonilla is making because I've used some of their firmness let me give you another example go to e2 where they talk about the fact that if you look at the minimum wage in dollar terms okay they agree that well yeah you know the general point about the MPP reason the minimum wage in dollar terms is correct but they are prescribing another formula you will use their formula you do not move from zero point eight to one point five which is still 87 point 5 under the epic penetration and then we'll use the same formula for the current one is 10.5 UK is a different formula you will get to the same point I don't want to be uncharitable to my good friends in money money is an organization I very much is you know respect if you look at the speed with which they deliver this response and the speed with which they deliver Thomas - some of the MPP papers it it appears as though they are in a hurry - to punch holes but I keep reminding our people everybody who's watching us and listening to us look at the big picture because even when you use and when they mentioned this move variables did they do the computation for you did they tell you there for what their policy prescription will be but policy prescriptions don't change and that's the point I'll give you another example I have with media the earthmister kubark all of a sudden I hear this is listening the economic and financial policies for medium-term of Ghana yes I'm finna 14 April 24 - let me read you just a few things the only DC government told us that all that they were going to do in government was premised on the GSG da - 2014 to 2017 listen to this and that they were able to pursue macroeconomic stability develop tricks the appropriate fiscal space for accelerated investments in key priority programs in partnership with the private sector they will go for strategic investments in human capital infrastructure helicopter-like allowances that i've been paid to you know teachers and lesser all of those things infrastructure human settlements science technology etc I'll take you to another fact fiscal policy we talked about their fiscal policy of objective their objectives that leave themselves set forth for themselves doesn't change even from the policy prescriptions that dr. Bonilla is talking about the problem is that the way they have managed things the results to be at variance with what they set forth thank you and one is why we're suggesting that you need to get on a certain path okay to get not like let's let's have you also do your reaction yeah and then I'll refer you to some points that see money also talks about let's see whether they are valid or not yes a green the first thing we need to understand is that when you do analysis to arrive at a certain conclusion based on which you are making policy proposals you need to be consistent you need to be consistent in your analysis in order to allow us to be able to understand whether you are being objective or you're twisting facts in order to support a predetermined position so the first point and that is exactly what Bonilla does best the first thing is this if you look at the issues that boundaries one way the issues the issue to do with fest painted a picture of a gloomy economy in order to arrive at a conclusion was first to pick the best year of mpps performance in GDP which is 8.4 and pick the West Indies performance which went to the point nine not even the four point nine that the yellow end with and based on that conclude that the entire eight years of NDC is three point nine and conclude that the entire eight years of MPP 88.4 I cannot imagine any kind of analysis such as this that is intended to informative bit and discussions about issue that's why he did the other issue is that pornea talks about 2012 not a harmony here understand that the finance minister said take I want to make a direct reaction to some of the analysis that could your point Roma Hasmukh almost attacked by thank you very much for joining us forgive us for holding you on the line for a while yes let's hear you say hello it's a good way hello mr. feckner yep yes can we hear you say oh yes good morning and good knowledge your listeners actually I was to join the conversation on certainly there a link was at least class hello yes yes I can hear you yes tell me now very clear yes thank you I said I was to join a conversation from the beginning and to listen but the inquiry took play but had money to monitor some of it but it makes soup it was a middle point yesterday but if we are going to use dr. bonnez model let us use it for prehensile indeed you couldn't be using a model for only death using accessories when you have other factors linked to macroeconomic management with respect to GDP disrespect to inflation that with respect to basics it and all the other illnesses secondly assuming that one grounds of the Balmer even the right to use this model he shouldn't be selected it is important that he could have use his mother true you shouldn't go back and use data to do the SUBSCRIBE service Bank of Ghana and Ministry of panel when it suits you know his criticism and I regret we don't in his model you know when we noted as Oh sweetie let me also make the point that if you were to use that Obama's move down how do we compare ourselves to prefer how do you compare first opinion there is a settling international standard there is a setting for an African standard and I think it is important that if you are picking up a model you should be copy efficient international travel let me point out one flaw in the model mmm dr. Bonilla in is modest if that Ghana would have you know an MVC with a vote at nine point nine billion dollars Kabbalah does not dispute that business for the computation of agility which is not his model now if you compare the two you see the inconsistency first of all that equals the volume by the NDC to Colonel GDP because Gallup GDP is around 40 billion dollars if you granted and hurt within the 2008 stroke which is about 8 billion I'd billion and you added that is 47 cents as alpha D 7 video that definitely is gonna debt to GDP ratio above hundred percent the question is if dr. Bonilla uses Genesis cassidy's data as soon as I thought GDP ratio is 70% even if we disputed 63 percent 70 percent of 40 is run about utility on it means a remarkable performance so that deaths to decrease to some in the process of 49 billion t13 to put it you know bid on it is tradition at any cost offensive and it is a selective use of information which we are saying is very dangerous let me reposition when dr. Bonilla was that was deputy governor that very data as individual you are using for the calculation and by the way is exactly what is being used now except for two major events the rebuilding and again with a very important point the rebuilding status from 2006 so this is important you know when you are comparing three 2006 and pre and post it as an asset data you know to be very careful what you are using because the GDP be a good example certain a special services were included in agriculture for example Google board marketing and others when rebuilding was done and I just to services and these were added so you do not have the same business you know so I think it's very you know important and I believe that dr. bong has a professional you know could have pointed out to some of these different right what do you make a very important point okay Pacific era is over and the HIPAA cannot allow bullying by both the MPP and the LDC are over and therefore if anybody is promising levels of expenditure today at 70% I know the person is going to add to death or the person addressed in its revenue significantly above in 72 and cyber it is the same that we have and I think it's important to be accountable this is where strategy becomes very important we have that management strategy that we are passionate and it is does that management that that manager strategies that is happiness two very important sales we are slowing down the rate of volume and at the same time continuing with infrastructure development as evidence by you know the tall promises I see the president you can see now it is important therefore that if you said we are going to add part you know you are going to expand infrastructure you are going to be doing things that will benefit you know the communities you muscle as whether it is good to come from if you are not going to follow especially if you are criticizing the current government on account of you know an account of death some of the policies that we are people that I think is important that we focus on initiatives okay we have real friends or enemy for example as we speak we are beginning to pay down our debt through the circle fund right the Mafia 2017 ball you know we took a Porsche traditionally bond with a hundred and thirty you know US dollars in the simplified it and make your initial right you know because our debt in the path of of the Williams we cannot continue right I wonder if like again I do not have time to get you all right Hannah where you no good party Josie address density back at the use of a service guarantee which is making it possible to bring in the independent power producers did I outran field and our circle Buster's you need to you know what to talk about thank you very much so I guess you can I get you water and my key point is it doesn't look really doesn't matter he hears me but if we are going to use a motel it should be used consistently it is electric right now didn't pick miniature Finals business Bango gonna be logically diverted come back mr. super can I get you to comment on two to bold statements very emphatic that dr. bow meow mix and ask why you are unable to do that now he says that corporate taxes shall be reduced from 25 percent to 20 percent in an MPP administration and he says capital equipment will be tax free VAT on imported medicine not producing gamma will be abolished brought on domestic airline tickets to be abolished but on SM is to come down from seventeen point five percent to 3 percent why you know able to do this he says that is this is possible in the very early stages if they win power now let me a little bit about taxes the 20% is when you are in a particular location it is not across board that standard property contracts with hazard change is 25% when we are located outside a crime then you could benefit from 22.5 you could benefit from 20% particularly at 30% when I get applied to do if you are in the district and therefore that's another you know formation why is that missus amazing because you're angry left disorder hold on hold on hold on said no ugly just 25 she wants to reduce that to 20 it's part of our taxable yes I'm saying that your coverage or study that was 25 he wants to reduce that influence III which we are talking about what most was small and we don't taxpayers the but is based on a principle of input and an output bus you in charge the customer output bus a 17 per size on the fifth and you take a credit for the 17.5 on your purchases because small businesses do not because more businesses do not maintain accuracy across the 3% is an approximation that says that if you take the third and you deduct the practices the value that a small business has added it represents when we do that note and that means as the three person wondering this we did which was the regime that as we said before when people changes was to increase the bus route and check out windows more businesses from paint but a personal contacts you wanna pay income tax the rich is will do good income tax and fast so I think is important you know when we are doing this that we understand the principle that we are talking about reduce you know taxes from thirty five percent to 25 percent and identity for the record our corporate income tax which will throughout enough to remember we're as high as 55 percent and fifty percent in fact mining another to a sixty five percent during the structure does may be that is when it took a consistent policy to reduce it from those levels to the 35 percent okay has always been a program we do know missus I assist you and available yesterday and all for it is a policy that was in existence which the end is MPP came to four thank you thank you also said hello Mississippi you say that you want to reduce the batteries you want to reduce the rate of import duties or raw materials and on all that you have a few issues to clarify souvenirs how fast committee I the question because very once because we have we are part of the commode is cemeteries of Aquash are you going to set a derivation for the 15 countries plus we know to change the division for the entire 15 countries in computing is different obviously you know countries we are also in negotiations the you plan you know the Italy you know based on this so I don't think that we should be taking this specific statements you know of C's value okay course we have signed on to the Conestoga College all right and by the way the harmonization of talents hmm in West Africa is not a new phenomenon okay thank you thank you very much miss okay well thank you very much for your time let's get back to the studio and let's have the guys in the studio continue with the discussing thank you it does appear that he's unable to hear me when I I you know interject to want him to address further specific questionings well thank you very much for coming on and sharing your views with us but that's such an indictment on what Bonilla has done yes he was reacting to you so go ahead we actually exotics and very quickly to ask him you see for example my good any any semana respect he's a very good person when it comes to taxes a man I respect I respectfully disagree with him on some of these submissions because for example when we calculate debt to GDP ratio using the debt stock and the projected GDP for March quarter one and in his supplementary budget he says 63 we say when you actually do the right because our view is that he used year and figures he says that's the way to do it so his 63 we say that's not the way to do so is 71 that's wrong about that what does the global economic standards see when you cross sixty percent that's the big picture that is why the IMF is describing us as a a distressed country but that's what the global economics policy so you say well of course 60% you are getting into trouble of course there are countries that are even above 100% but no can be a currency issues they don't also the currency issues on fluctuations that we have he spoke directly to the the the you know both statements about tax I will come to that and this is this very human country and he says Barnea appears not to be I will come up that come on you know time I will come I will come to I will come to that there's another point that is made about hipping and he makes the argument that typically is no longer existent so when you find any government or anybody making big promises it means only one of two things that is probably gonna increase taxes or go for having to raise taxes yes or he is going to have to borrow some more how do you had President Mohammed promising free boarding and free tertiary is my senior mr. thick were telling us that therefore by implication as well president Mohamed means no no I'm sorry oh yeah sorry I didn't hear him say it means you rich that's what did he say that that you will generate more internally by by a vehicle options he gave two options so we all know the percentages of tax tax revenue and non-tax revenue in this country so if you are talking about even revenue I'll grant you that revenue what does it mean now my sing abhava Isaac talked about the fact that we are talking about a one-point and 1.6 billion budget out of which we are hoping to do some $1,000,000 per constituency dr. Pommier in answering that question said you know it was a question about we're going to get the money we affect the question that with borrowed 39 billion we can only see seven billion in infrastructure where's the rest of the money and we are pointing to the IMF report that says that a px is going to consumption the question is where is the money the question is not where are we going to find the money to do that first okay that's not my point now you see yes the oscillation where do we say we are referring to the one point six below we have seen that there's already an infrastructure budget allocation we will not let you to be centralized here in a crowd you spread it across the country okay now it was very last question about taxes its axis let me just learn about taxes why didn't somebody does go to God on the brexit hey regionalizing lanolin my single made an argument that these are policy choices of government the MPP when he came into government took similar policy choices reduced tax rates in spite of whatever conditions in which we were so it's not aware of livers of those we are talking first about fails that will make our country survive an economy go forward ok context of people thank you thank you thank you thank you tax issue which is it well I just want to comment on what could on the tax side in fact yes because there is Isaac who is speaking right yeah yes or they see to the Communists and orthographies true that that is now something that it anti-eco as member states have actually accepted and Nigeria is seriously implementing Ghana started understanding this is that may be impossible according to well the model so that there's a way out there's something we call IHC the import adjustment tax which is actually a safeguard measure for countries to if you find out that there's a grace period for the implementation of the CDT which is five year grace period so within the FISA implementation if you find out that you are having for example honest protect important that is actually killing your domestic industry you are allowed to either increase or reduce certain taxes within the CET with the minister is aware aware that you so countries within the five years can actually change the tax credit is in the idea which is a still gotta imagine a direct answer from you all right balmy assess tax on SN e is going to reduce it from seventeen point five to three percent you believe in well I mean where am i - hope there's always a weird if you if you have the will Nigeria for example that v8 is about five percent okay despite of amendments also if you want to do that you have to leave some fiscal adjustments switching here and there as be able to interesting interesting okay yeah is that some reaction want to be a point I'm feeling sensual engine defense the first thing that I measure which took a mention is the fact that you have to be consistent in activity we're in college or for instance which bill I mean the the minimum would you realize that is gone from two point two five to eight Dinah's city so you want to downplay it so you move to you play the point of pay dollar you know just because you know you are not doing well there why are you not using the purchasing power parity by looking at the inflation okay and he talked about prices increasing of course we are now looking at price at one point to the other at any point in time price would increase but in any case we will be interested in purchasing power and not you going back to you some latitude the issue about whether or not what do you call it you can all of a sudden scrap all taxes we need to know that there are rigidities within our budget and those rigidities obligations that we can't just throw out in our budget currently we have about say about eleven billion of wages and salaries okay this eleven billion we can't do away with unless you want to say that you want to cut down on how much up in Vegas okay again we know that you have a little to the fact that there's an interest component in our budget of about ten billion so that already gives you about twenty two billion that you have to deal with if you are scrapping everything tax obviously are fifty percent of what they have listed our taxes are gone so that grant that are fifty below including the balloon daddy I guess is our 50 below let's let's take it half of that out you get 25 billion so after paying your salaries and your your your interest cost alone you are now fully 3 billion to run Ghana so let us not deceive people we know that this is not achievable it is just a political gimmick in order to deceive the people of Ghana to take power but it can't be done I said issue is manases amana says this is use of fair fair use of data for valid criticism and amana says number one Ghana GDP has shrunk by 5 percent in USD tapes and that John Mahama Amani says that damaged GDP per capita roughly quadrupled by four times under the NPV that has grown by less than 20% under NBC taking all money money value factors into account they say that there has been a revenue shortfall of about 700 million Ghana Cedis for the first half of the year they say a raft of bad taxes have been slapped on goods such as bicycles and ambulances that do not deserve these taxes you say cetera said the epic era is over and it is over for good we have to find innovative ways of generating revenue domestically and we shouldn't think that because we want power ok we start criticizing everything that allows us to look inward in order to build this economy so just simply saying that I'm going to reduce taxes in fact I was surprised I was talking about capacity building a development of human capital he quickly went to allowances I mean human capital development we're talking about infrastructure development of 123 schools that will allow our kids to have education and you got talking allowance right we're talking about we're talking about talking about massive infrastructure development that improve the health care of the baby let me guess yes mama says bottom line this is crossing and this is incompetence that is leading us to all the problems that we should look forward to and we have suffered all over said there's a funny thing that was that was a solid foundation built by ko4 and what John Muhammad has succeeded in doing is to gradually and continuously destroy that foundation and repeatedly tell Ghanians luck he's laying a solid foundation what he says s-cross and I'm said the the ridge and the leg on hospital example he gave he gave another is that done by college the systolic stock bungalow built at nine hundred thousand Ghana Cedis when the NPP did is similar the same structure for how much for about three times was more than 195 195,000 Garnett so this is four point six times more right I'm saying that particular protein stock livadas in exists he has to bring the proof I mean it doesn't that a project at that cost that does not exist no other project the point I'm making here the point I'm making here is that we need to understand what Bonilla was doing Bonilla was simply painting a picture de vive see what is the straw that he's talking about the straw that he says will let the economy grow by double digits in two years have we ever seen a reed Foundation in 2016 that generates growth of double digits in two years so he was exposed he himself could not have caused international bodies have confirmed the foundation Bonilla wants us to believe but he wants us to believe the foundation that make him make his propaganda okay thank you thank you let's hear from doc the sea and yes I haven't come to him I haven't come to you so visual redwood no he has not he came in to react to welcome and to shave a point with us sorry and now in all of this we're actually now being told that we are going back into the to the borrowing market is it I don't know how you you guys refer to it to borrow again by through euro bond what are the implications something if I come down let me just react to feelings about the issue of selectivity I think both parties to a large extent for here I mean because I remember in 2008 while we're talking about fiscal deficit that the government has recorded MDC kept saying that the budget deficit was about 19% they're about but this recourses or they were using the old GDP at that the budget deficit to GDP and so it gives a very high figure now that while the actual figures about 6.6 percent that is when you use the rebased GDP the same thing applies when honorable say that the debt to GDP acid our time is 52 percent now he is right but the only difference that the base that is using is the old which is the the non reboost one so somehow politicians often find ways of choosing and selecting and doing that yes the issue of Europe bond going to the European market we certainly was quite interested when they got an indication that then firms one bomb you talking about well I mean economy like I always say every country borrows okay there's no country in the world that doesn't borrow but when you're borrowing there are certain key things that you need to look at the term structure of the book alone that yeah ticket okay what is the temps the terms comes in two forms they temp to maturity and ended it and then the interest that we are going to pay so you can decide to borrow but these are the key things that every financial pays not every economist will be looking at now when the economy is in difficulty you have to borrow and how when do you borrow you honorable or when you are engaged in deficit finance are spending okay yeah spending more than we are generating in terms of ribbon now when you go out there to borrow for example last time when we borrowed we were at the cost of ten point seven five percent for a period of fifteen yes which were in terms of cost it was very high ten point seven five but in terms of the term to maturity it was good because it gives you enough latitude to actually mobilize enough revenue to pay 15 years was good now just recently this Minister went out and the Ministry of Finance also went on virtual to raise about several fifteen million that is good because for any money that you borrow it comes in is an inflow which comes to show up your domestic currency which also comes to give you some kind of visca as pays to be able to implement some of your key projects and also like refinance and refinance some of the maturing didn't buy the issue is where I don't seem to agree with the issue about it was oversubscribed which the means that once it's over subscribed the investor confidence Alexia coming hi III would not wholly sub that because one you are getting this loan at a term of five years and you are getting it an interest rate of 9.5% there about try the interest rate has reduced but the number of years if you are to calculate what we call effective rate of interest where you have 15 years and you're paying ten point seven five percent and where you have just five years and mind you five years as soon as you finish your eyes here it will come soon and you have to find some money to pay five years or so to come in you have to pay nine point five percent which is high if you have to do the strings of payments that you do over a period of 15 years compared to streams of payment that you do over a period of five years and you discount you realize that what you are paying in now is actually much higher than what you would have paid even if you are paying 12% in for 15 years you know so it is not anything favorable and then also when you say that there's oversubscription if you compare the international capital market today you know the market conditions as we've been saying it's not that favorable because if you look at European market with the bracelet the risk profile with those economies have increased if you look at what is happening in America with the elections and all that the market conditions is not that too favorable and so even with that kind of condition if you investor are so ready to offer 9.5% for your bond then is very high so relatively high in the sense and if for example you have four billion in assets the issue is how much where they accent to pay on your point because often they all bid right and so you need to also put that into perspective some politicians will always pick and choose one that they will put it out right and and and this is not currently paying attention to that and and laughing when they are doing their selectivity now now see the prescriptions that Bob gifts the task cuts this is a raft of them he feels and he's very bold at making those statements so we can be sure that the the entity is setting of those things because if they don't if they happen to get to par then I mean the onions will will will scam them what do you make of the prescriptions he is giving going forward to ameliorate what he says is the suffering of Daniels and to keep the economy back on on on a path of growth thank you something you know you said as looking at them a lot of course I mean the question is why are we concentrating on these two parties so much because the media presentations so but you know Ghana has the uniqueness of only being the political system where the two alternating parties have a blue parties you know funny it is a really funny thing so it is important that you look at a website you know and and mainly look at the website you see a lot of differences and the appropriate prescriptions as well right so I will proceed from from nothing now why are they focusing and this is more important it's more concerned with talking to dr. Bonilla dr. Bonilla said is dr. Bonilla say this you know we should talk to them yes they should talk to us as to how they are different and how they are going to promote the prosperity of the economy and on that respect the underlying concepts of their policies they should they should be concerned dr. Bonilla is saying that but the quantum of money that has come to you 12 times what went to the npp means you should have brought this kind of comfort to ghanians and Daniel's can't see it but the Bamiyan says there is some mystery money missing money which he seems to suggest has gone into corruption he used the McGann hospital he uses the rich hospital for as examples and mike has a problem with Isis he is not considering the facilities here and the fertility facilities dead except that his fell short of telling us what a difference in the first year is the reason why he shouldn't be looking at doctor dr. Bonilla is the fact that you know they should be looking at how these policy choices or policy differences bring prosperity to our people so they should look at on the line concept and not the figures and not focus on disputing dr. Bonilla but telling us that we have policy differences and these are the differences okay as the CPP would do for example would tell them that we wouldn't look at dr. Bowman what he's saying at all because we know that the underlying concept of the policy choices are the same and what the glance at Amiens dan yes I'm interested yes that's like could you said earlier dr. Bonilla this has been become some sort of an economic profit he says thinks he's disputed he's really cold to a certain extent and then he's proven right samsonite assumption that interest is is is misplaced that is the point and that is why we have kept one listen to these two parties for 32 years and nothing has happened you see so we should be looking at a serious point oh yeah we should be looking at a new narrative we should know nothing has happened the unemployment is the same baby industrialization is going on you know gonna use that used to be a manufacturing hub in West Africa you know is not completely the industrialized we are totally in for dependent you know and this is the outcome of 32 years of structural adjustment privatization stabilization by a deficit reduction strategy that doesn't work but that's why we have one district or factory I'll come to that if you want there was one district if you never happened you see a failure you know that was one this one pultec me please he's got a very important question you see on this one so you know it is not a word to attack police oh and I'll tell you why they have said those things I tell you while he's on a world tour tide policy because the the fundamental question is that what difficulty of the economy is the one factory going to address yes you can okay so there are two big problems there's a major problem with jobs and then we take a break from here there's also another part another time to unless you don't want him to answer no I don't at all times because I just say I just saying that will be unfair yes I'm already he's been complaining a lot about being interjected who and could you not getting interjected as often as I do who and I so if you don't want you to answer directly end it here let's take a break and recall show you with the other matters we right back [Music]

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Keywords: Ghana Political Issues, ghana Politics, Matters Arising in Ghana, NPP, CPP, PPP, National Budget, Chieftancy, Ghanaian lawyers, Economy, Constitution, Election, campaign, youtube, joy news, newsfile

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Length: 47min 32sec (2852 seconds)

Published: Sat Sep 10 2016