According to the 2010 Budget Statement (paragraphs 125 to 129) issued by the NDC
government, cocoa and gold exports witnessed only marginal increases in 2009 while
timber export saw significant decline (in terms of both value and volumes) in the same
year. Indeed, in terms of volumes, cocoa and gold exports also declined.
Our imports also shrunk from US$10.3 billion in 2008 to US$8 billion in 2009.
Obviously, when both exports and imports are shrinking, import and export taxes would
also shrink. This is common sense. The Bank of Ghana correctly observes the following
in their February 2010 Policy Report:
“All the tax types witnessed shortfalls, with petroleum tax shortfall almost 40 percent.
The underperformance of petroleum tax revenue was attributed to approximately 37
percent decline in oil imports for 2009 relative to 2008, and the downward review of
petroleum taxes earlier in the year.”
Therefore, for Tony Aidoo, the man in charge of the monitoring and evaluation of
government policy (including economic policy) to say that import and export revenues
underperformed in 2009 because of the corruption of CEPS officials is most unfortunate
and embarrassing. By his position, he is the chief advisor to the President on the
progress of government policy. Which explains why the President has been saying that
the economy was well-managed in 2009 but revenue did not do well because of the
corruption in our revenue agencies.
Mr Tony Aidoo has no training and exposure in economic policy issues and should desist
from making such uniformed statements about the economy even if he is the monitoring
and evaluation director at the Castle.
Kwaku Kwarteng
Communications Director
DEVELOPMENT
Source: GhanaWeb
