Download WordPress Themes, Happy Birthday Wishes

Ghana’s Public Debt: Every Ghanaian owes GHS 5,798 – Minority

The Minority Spokesperson on Finance, Cassiel Ato Forson has said the New Patriotic Party (NPP) government’s reckless borrowing has landed the economy in bad shape.

According to him, this has culminated in the situation where currently every Ghanaian now owes over GHS 5,700.

“Within 12 calendar months, this government has added to our public debts by GHS32 billion. Ghana’s public debt is GHS 122.2 billion. If you’re to calculate per capita, then it means that an average Ghanaian, ordinary  Ghanaian at the time owes GHS 4, 334.53 million in 2016.

“Mr Speaker as at 2018 , according to Ghana Statistical Service, Ghana’s population will be by end of year 29.4 million. Mr Speaker again, Ghana’s public debt has risen from 122.2 billion to GHS 170.8 billion. Mr Speaker it means that in today’s Ghana, every Ghanaian including the new born baby owes GHS 5,798.00. Mr. Speaker, this is unprecedented.”

Meanwhile, the Chairman of parliament’s Finance  Committee, Dr. Mark Assibey Yeboah has contended that the ruling NPP government has fulfilled its social contract with Ghanaians which is to fix the economy.

Opening a debate on the 2019 Budget in parliament on Tuesday, the New Juaben South MP said based on the 2016 manifesto of the NPP, there was a promise to deliver good governance and also manage the economy better, which the government has done so.


About News


Check Also

Cement firm closed by GSA for using subpar materials; two directors detained

A cement manufacturing company in the Ashanti Region was forced to close its doors due ...