He projected that Ghana's public debt stock will hit GH¢250 billion by 2020 based on the current ballooning rate of the public debt stock.
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Debt stock will expose you when you do propaganda - MP tells Nana Addo
The Minority spokesperson on Finance, Cassiel Ato Forson has released economic figures to 'expose' what they described as cooked figures on Ghana's debt to Gross Domestic Product (GDP) by the government.
Cassiel Ato Forson and Nana Addo
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He said the government has betrayed Ghanaians with its reckless borrowing.
"Our estimate, based on this trend is that the public debt will rise to about GH¢250 billion a year by this time,” the MP for Ajumako/ Enyan/ Esiam Constituency noted.
"Next year by this time, don't be surprised if your public debt gets to GH¢250 billion. This is an addition of GH¢130 billion as against what they inherited," he told the media at a press conference in Accra, Thursday, June 5, 2019.
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"Currently spate of borrowing threatens to erode the fiscal space provided by the rebasing of the economy that was started in 2016 and which was concluded in September 2018," the MP for Ajumako Enyan Essiam stressed.
In his analysis, even worst is the current situation where there is "over concentration of external debts".
Cassiel Ato Forson
Pulse Ghana
The MP in a Facebook post reminded President Nana Addo Dankwa Akufo-Addo that the public debt will expose the government when it only engages in propaganda.
He wrote: "We remind the President that when you do propaganda with cosmetic fiscal deficit numbers, the public debt will show your smoothness level. Mr. President please show us the utilization of the 37.4 billion US dollars (21.4 billion revenues and 16 billion borrowed funds) for your 27 months in office."
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