The Member of Parliament for Bantama and government’s spokesperson on finance, Daniel Okyem Aboagye has taken a swipe at the Minority over their claims that government has increased Ghana’s debt burden and using the money on consumption instead of capital expenditure or infrastructure development.
Speaking at a press conference in Accra Thursday, the Minority Spokesperson on Finance, Mr Cassiel Ato Forson said the government met a debt of GHc120 billion and added GH¢80 billion bringing the total debt to GH¢200 billion.
“The GH¢ 200 billion national debt represents an increase of about GH¢ 80 billion in the last two and half years alone by President Akufo-Addo and has raised the debt to gross domestic product (GDP) ratio from 56 percent in 2016 to almost 58 percent”, he said.
Mr. Forson said the New Patriotic Party (NPP) in opposition had promised not to borrow and indicated that the NPP in government had
benefited from a 25 percent bonus or increase in GDP due to the rebasing exercise.
But commenting on the position taken by the Minority, Mr. Aboagye said the NPP government does not borrow recklessly but rather invest all monies into the prudent venture, which is a long run benefit all Ghanaians.
Mr. Okyem Aboagye described the press conference as “much I do about nothing” adding ‘’the NPP government will not borrow to eat “chinchinga”, or bus branding, or borrow and invest in an unproductive Komenda Sugar factory rather, the NPP will borrow to solve our energy crisis popularly called dumsor, we will borrow and invest it in the free Senior High School policy as well as invest the money in road infrastructure.
According to him, the government is working to provide a stable economy for Ghanaians, adding that days the country witnessed poor economic performance indicators are in the past.
The position of the President is against reckless borrowing and borrowing to pay the reckless borrowing.
He said the Minority, championing the propaganda against the government, is pathetic especially when they borrowed but had nothing to show for it.
He concluded by stating that Ghanaians have witnessed the tremendous transformation and many social intervention programs by the NPP government, improving the agriculture sector, putting up massive infrastructural developments, reducing nuisance taxes and stabilizing the economy.