He projected that Ghana’s public debt inventory will hit GH¢250 billion by 2020 based mostly on the present-day ballooning level of the community credit card debt inventory.
He mentioned the governing administration has betrayed Ghanaians with its reckless borrowing.
“Our estimate, centered on this pattern is that the community personal debt will increase to about GH¢250 billion a 12 months by this time,” the MP for Ajumako/ Enyan/ Esiam Constituency observed.
“Subsequent yr by this time, never be surprised if your community financial debt receives to GH¢250 billion. This is an addition of GH¢130 billion as versus what they inherited,” he informed the media at a push convention in Accra, Thursday, June 5, 2019.
“Presently spate of borrowing threatens to erode the fiscal space presented by the rebasing of the economic climate that was started out in 2016 and which was concluded in September 2018,” the MP for Ajumako Enyan Essiam stressed.
In his analysis, even worst is the existing predicament wherever there is “above focus of exterior debts”.
The MP in a Facebook publish reminded President Nana Addo Dankwa Akufo-Addo that the public debt will expose the govt when it only engages in propaganda.
He wrote: “We remind the President that when you do propaganda with beauty fiscal deficit figures, the public financial debt will demonstrate your smoothness degree. Mr. President you should present us the utilization of the 37.4 billion US bucks (21.4 billion revenues and 16 billion borrowed funds) for your 27 months in office.”