“We won’t borrow if we don’t need it.” This was a response by Finance Minister to the Minority on incessant borrowing.
He explained that, if revenues are not moving as fast as it should, government will continue to supplement.
The opposition National Democratic Congress (NDC) has said the ruling New Patriotic Party (NPP) is on a borrowing spree pushing government’s debt from GH¢122 billion it inherited to GH¢172 billion.
However, it said the Akufo-Addo government had not been able to tell Ghanaians how the money has been utilised.
The NDC argues that Ghana’s public debt under the NPP is becoming a liability to the country.
In a rebuttal, the Finance Minister said it is not out of place for the Akufo-Addo-led administration to continue borrowing.
But, what the monies have been used for especially in the energy sector is very visible for all to see.
Mr Ofori-Atta said the government has been compelled to borrow more in order to defray the debt the Mahama government left behind.
“I don’t understand them [NDC] but the numbers are there to show. We paid arrears they left for us,” he added.
Mr Ofori-Atta said they have been able to solve the crisis the NDC created and now creating an opportunity for the future.
“When you meet a crisis, there are certain things you have to do and then you also invest in the future,” he added.