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Just a little education here. In the Vice-President's presentation, the budget deficit figures were mainly mentioned in paragraphs 6, 20 and 21 (see figure 8). In paragraph 6, under Public Finance, before 2017, the Vice-President aims to paint a picture of Ghana's budget deficit figures as they were from 2012 to 2016, when the nuclear power plant was then used and mentioned in the opposition.
That made sense then, because it was trying to show how bad things were when the NPP was talking about it to gain power. Mr. Bawumia mentioned in paragraph 6 and I quote:
"The economy ended in 2012 with a budget deficit of 12.2% of GDP, 11.7% in 2013, 11.9% in 2014 before falling back to 6.7% in 2015, but again reached 9.3% in 2016. We recorded for the first time in Ghana The story recorded double-digit budget deficits in three consecutive years and plunged into a deep fiscal deficit.
These figures are true and reflect the budget deficit figures until the GDP is reformulated. It is therefore unrevised budget deficit figures for the period 2012-2016 and no one can dispute that.
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During the Vice-President's presentation, which was to give the figures of the budget deficit for the two periods, the NDC and the NPP, he used the rebased figures for the two periods, including the figures mentioned in paragraph 6. For example in paragraph 20, spoke of the fiscal and monetary policy that the Vice-President said:
"The budget deficit (on the basis of liquidity) has decreased considerably, from 6.8% of GDP rebased in 2016 to around 3.8% in 2018 (Charts 7 and 8)."
So you clearly notice that because the base change took place in 2018 and that he had to give the 2018 figure in the new (rebased) series, he did not use the old (un-rebased) series of 2016, as he mentioned in paragraph 6. is intellectual honesty and consistency. He did not use a base-based figure for 2018 or a non-base-based figure in 2016. He was very professional and consistent.
Again, if you go to paragraph 21 of Figure 8, it shows readjusted budget deficit figures from 2013 to 2018. In this paragraph, it gives the following figures: 2013 (8.4%), 2014 (7, 4%), 2015 (5.3%), 2016 (6.8%), 2017 (4.8%) and 2018 (3.8%). So you see, aside from paragraph 6 where he was showing the unretorded data as used by the NPP before the 2016 election, he would later show the figures for the new series (rebased).
It has not shown any untested figures for the NDC era and rebased figures for the NPP era. He was consistent in showing the same series for both periods whenever he mentioned them. So where are the lies?
What is rather a lie is when Ato-Forson pretentiously quotes a provisional figure of 7.8% of the provisional result published on the website of the Ministry of Finance, giving the impression that this is the real unrealized deficit for 2016. This figure provisional result and can not be considered as the actual deficit for 2016.
Even in his attempt to lie about this figure, he cited the wrong choice because in the Excel sheet of the ministry's website, this figure was 8.7% and not 7.8%, according to the liar Ato -Forson.
The actual (non-provisional) real (non-provisional) budget deficit for 2016 is clearly foreseen in the 2017 mid-year budget, as well as in the 2018 and 2019 budgets. And in each of them, the figure mentioned is 9.3%, which corresponds to what Dr. Bawumia mentioned. For example:
Page 7, para. 14 of the mid-year 2017 budget reads as follows:
"Mr President, at the budgetary level, up-to-date information shows that the budget deficit at the end of 2016 was worse than expected, at 9.3% of GDP, compared to a provisional figure of 8.7% of GDP in terms of cash at the time of presentation of the 2017 budget. "
Page 12, para. 45 of the mid-year 2018 budget bed
"The cash budget deficit rose from 9.3 percent of GDP in 2016 to 5.9 percent at the end of 2017, 0.4 percentage point lower than the original forecast of 6.3 percent, as shown in the table. 1 ". –
Page 3, para. 14. The full budget declaration of 2019 reads as follows:
"Mr President, it is important to remember what it was to appreciate the work that has been done to repair the mess: high budget deficits reaching 9.3% of GDP in 2016" –
Ato-Forson has been lying here. Where did he get the 7.8% for 2016?
You can do all the propaganda with insults and lies, but FactCheck will expose you.
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