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Company News of Thursday, April 4, 2019
Source: clbadfmonline.com
2019-04-04
Isaac Adongo, Member of Parliament for Bolgatanga Central
Bolgatanga Central MP Isaac Adongo said some of the $ 3 billion the government raised with recently issued European bonds would end up with "family and friends".
Mr. Adongo, a member of Parliament's Finance Committee, is concerned that Ghana has gone through a period of borrowing to ensure the future of the younger generation at one time loan for consumption.
He pointed out that, "If you take 2019, the $ 3 billion borrowed, $ 2 billion is for the budget. Only $ 390 million will be spent on capital expenditures. $ 1.61 billion will go to family and friends, you know it. "
The legislator made the remarks at a public lecture on Ghana's economy, given by the National Democratic Congress in Accra on Thursday, April 4, 2019.
Mr. Adongo also said: "In 2018, we have [Ghana] went to borrow $ 750 million [but] we spent only $ 119 million on capital expenditures; $ 631 million, we spent on consumption. Our children will have to come and pay for it and they [the government] have nothing to show ".
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