Finance Minister justifies incessant borrowing

“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.

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  1. Abeeku Mensah says:

    Why do we change government administrations in Ghana if each government borrowing and foreign indebtedness is justifiable? It is the politics of NPP and NDC that created the treasonous looting of Ghana’s treasury, the normalization of stealing, immorality, tribalism at its worst and acts of terrorism we call vigilante groups. Ghanaians claim to love government policies in Britain, Germany, Canada, the USA etc and yet when it was time to write our Ghana Constitution we ignored the Constitutions of the USA (which by the way was a far better improvement of the British constitution) and created our own senseless class one pupil’s useless constitution that has neutered both of the Ghana judiciary and parliament while making Ghana’s president a defacto dictatorship or a monarchy . Why would the finance Minister of this Akufo-Addo government administration sell Ghanaians the nonsense called “Ghana beyond aid” yet borrow money each month for worthless reasons just so the NPP can buy votes from voters who lack common sense to know that the future of our children are being sold to China and other nations because of some stupid promises made by the Akufo-Addo 2016 campaign? Has it occurred to anyone that this Akufo-Addo administration cannot claim to provide jobs to nurses, teachers, graduate students, food for feeding etc and all the other claims while borrowing money from China for development projects? If the government has money to pay for all the workers, the 1D1F, 1D1D etc why then is there a need to borrow? We are borrowing because we do not have enough revenues coming into our national treasury/coffers. All the workers, mostly NPP, that have been hired by this Akufo-Addo administration will not have jobs after the Akufo-Addo government not because another government is hateful but because neither the Akufo-Addo government or any incoming government can keep borrowing to pay workers and also fund free SHS etc. Would Akufo-Addo or Ken Ofori-Atta have waited till the 2020 budget to tell us there are more projects coming if the Akufo-Addo government incoming revenues could fund other projects? What we have here is a government that cannot tell Ghanaians the truth about buying only the things we need the most and wait until we can afford more things in the future. They will rather borrow the fulfill promises and leave office with Ghana’s government and us all indebted to China. Don’t be surprise when Chinese people end up owning every damn job in Ghana and we become the new slaves in our own Ghana.

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