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Ghana’s Debt Stock: Every Ghanaian currently owes GHc5,798 – Minority
The Minority’s spokesperson on Finance, Mr Cassiel Ato Forson, said the country’s current debt stock means that every Ghanaian, including unborn babies, owes GHc5,798.
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The Minority’s spokesperson on Finance, Cassiel Ato Forson, said the country’s current debt stock means that every Ghanaian, including unborn babies, owes GHc5,798.
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He accused the ruling New Patriotic Party (NPP) government of increasing the public debt from GHc 122.2 billion in 2016 to GHc 170.8 billion in 2018.
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According to him, the Akufo-Addo government’s handling of the economy is “substandard” and “unacceptable”.
Minority spokesperson on Finance, Mr Cassiel Ato Forson
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“According to the Ghana Statistical Service (GSS), Ghana’s population, as of 2016, is 28 million. Mr Speaker, in terms of debt at the time, Ghana’s public debt was GHc 122.2 billion,” Mr. Ato Forson said while debating the 2019 Budget in Parliament Tuesday.
“If you are to calculate the per capita, it means that an average Ghanaian at the time owes GHc 4,334.53 but as of 2018, according to GSS, Ghana’s population would be, by the end of the year, 29.4 million. In today’s terms, every Ghanaian, within 18 months, including a newborn baby, owes GHc 5,798. Mr Speaker, this is unprecedented, this is too much,” he added.
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He said the Akufo-Addo government has been over-borrowing in the last 12 months, insisting GHc32 billion has been added to Ghana’s public debt.
“Within 12 calendar months, this government has added GHc 32 billion to our public debt,” Minority’s spokesperson on Finance stated.
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