Akufo-Addo asked for $ 37.4 billion in revenue

General News on Thursday, June 6, 2019

Source: 3news.com

2019-06-06

The National Democratic Minority Congress in Parliament compared the "excessive borrowing" of the Akufo-Addo-led government to an "epidemic". Yet the evaluation of the minority government has nothing to do with it.

The government of the new patriotic party would have added at least 80 billion cedis to the national debt in 27 months.

The Bank of Ghana said in May that the stock of public debt reached 57.5 percent of GDP, or UAH 198 billion by the end of March 2019.

Member of the Finance Committee, Cbadiel Ato Forson told reporters at a press conference Thursday that the amount of 80 billion GHS added to the public debt did not include new borrowings of 750 million dollars commercial loans reserved for this year; New GNPC $ 200 million borrowings; governments are asking GETFund to borrow $ 1.5 billion.

"What an epidemic of borrowings! It is obvious that, contrary to haughty speeches. President Akufo-Addo and his government do not have the capacity to keep their promise not to borrow, they have no new or exceptional economic management capability beyond the empty words and mortgages the fate of our future generations to make reckless borrowing decisions, "said Ato Forson. .

Ato Forson, former deputy finance minister, said the current public debt has highlighted the government's alleged success in budget deficit, described as "cosmetic".

The Chair was therefore asked to report in detail how all funds received under his administration were used.

"Mr. President, thank you for showing us the use of $ 37.4 billion ($ 21.4 billion in revenue and $ 16 billion in loans) for your 27-month mandate," he asked.