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General News on Thursday, April 4, 2019
Source: 3news.com
2019-04-04
Isaac Adongo, Member of Parliament for Bolgatanga Central
Isaac Adongo, a member of the National Democratic Congress' economic and financial team, criticized the level of borrowing by the government, saying part of the $ 3 billion secured Eurobonds would end up in the pockets of citizens .
He said that the era when the government borrowed to undertake the development of infrastructure in the interest of the population was over, the Akufo-Addo government having decided to take the next step by borrowing to consume.
At a public lecture on what they saw as the true image of the economy by the NDC, Mr. Adongo said, "We can not embark on the path of constitution-building. A debt and show nothing to support it "
"If you take 2019; the 3 billion [dollar] they borrowed 2 billion [dollars] is for the budget, only 390 million [dollars] will be spent on capital expenditures. $ 1.61 billion will go to family and friends, "he said.
Already, he said that they started spending money on the Kenkey and the Fish Party under the pretext of celebrating the economic hat trick.
He expressed his regret that today's children, who will be paying for this bond over the next 29 years, will have nothing to show.
"Ghana came out of a time when we borrowed to build our future," he said.
Mr. Adongo, a member of Parliament's Finance Committee, said that of the 750 million dollars borrowed by the Akufo-Addo government in 2018, only $ 119 million had been spent on capital expenditures and $ 631 million on consumption. .
"When we borrowed to create prosperity for unborn children, they said they were incompetent, and when we borrowed to build Terminal Three, they told us we were incompetent when we borrowed to build regional hospitals in the country. they said we were incompetent. Now that they are borrowing to pay for kenkey and fish, what will it be? He asked.
Describing the current government's "borrowing to consume" approach as "disturbing", the financial consultant asked Ghanaians to "wake up" because this approach can not be maintained.
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