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Ghana’s debt profile rather ballooning – Amaliba fires

Vice President M. Bawumia recently got a $2 billion loan for Ghana from China

A member of the legal team of the National Democratic Congress (NDC), Abraham Amaliba, has rubbished assertions that Ghana’s debt-to-GDP ratio has stabilized under the current government.

He says the country’s debt profile “is rather ballooning”.

Speaking on the weekend edition of TV3’s New Day, Mr Amaliba said from a debt stock of GH¢122.6 billion, the New Patriotic Party (NPP) government has taken the stock to GH¢137 billion in just six months.

He said the re-adjustments of revenue target from 6.5 per cent to 6.3 per cent is enough evidence that the government is struggling to hold down the economy.

READ: So far, gov’t adds GH¢3 billion to public debt every month – MP

The legal practitioner cited how government expenditure was virtually non-existent in the mid-year budget review presented by Minister of Finance Ken Ofori-Atta last Monday.

“The reason why [government is] not spending is that there is no money,” he stressed, “[and] if government does not spend, the economy does not grow.”

He held exceptions to views that the government cannot be assessed in just six months, wondering: “If we cannot assess them, why are they appropriating to themselves some successes?”

But a deputy minister of state, Osei Bonsu Amoah, disputed Mr Amaliba, citing how government expended over GH¢22 billion on payment of arrears.

The Deputy Local Government and Rural Development said the re-adjustment of the revenue targets does not mean a deterioration of the economy especially when targets are better than previous governments’, he said.

By Emmanuel Kwame Amoh|3news.com|Ghana

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