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Ghana’s Debt Stock Jumps From GH¢120bn To GH¢450bn In Last 6 Years

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Ghana’s total debt stock has shot up to GH¢450 billion in 2022 from a total of GH¢120 billion in 2017, Finance Minister Ken Ofori-Atta has revealed.

The current debt stock means Ghana has borrowed over GH¢300 billion since the Akufo-Addo-Bawumia-led government assumed power in January 2017.

Appearing before the ad-hoc committee probing the grounds of censure filed by the Minority in Parliament, Mr Ofori-Atta said despite the astronomical increase in Ghana’s debt stock, the focus should be on what the loans have been used for and its benefits to the nation.

 

Mr Ofori-Atta stated that the GH¢330 billion loan has been invested in One-District-One Factory, education, interchanges, Planting for Food and Jobs and other sectors that he claims have benefitted the state.

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The Finance Minister also dismissed suggestions that he has mismanaged the country’s finances.

“Fiscal recklessness leading to the crash of the Ghana cedi which is currently the worst performing currency in the world” was one of seven grounds put forward by the Minority to demand the removal of Mr. Ofori-Atta.

 

He added that on the contrary, the government’s “strenuous efforts to protect the public purse is what has helped”.

He argued that he has as required of him always presented government revenue and expenditure propositions to Parliament, who have in turn raised no concerns.

 

 

 

 

 

 

 

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Thanks for reading from MyGhanaMedia.com as a news publishing website from Ghana.

 

 

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Source:  Citinewsroom

 

Disclaimer: MyGhanaMedia.com is not responsible for this report and its content.
There are four types of content published on   MyGhanaMedia.com daily: curated content; syndicated content; user-generated content; and original content.

 

 

Are You Suffering From Weak Erection, Low Libido, Premature Ejaculation Or Infections? – Get M-Plus No

 

 

 

  Maccun Plus (MPlus) is for men and women as a natural aphrodisiac with no side effects

Just contact the number below for M PLUS HONEY.

024-377-7896 / 0561193978

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Send your news stories to my[email protected] and Chat with us via WhatsApp on +233 200818719

 

 

 

 

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