Ghana’s public debt has reached GHc129.5 billion according to Bank of Ghana’s Summary of Economic and Financial Data issued Friday May 19, 2017.
This represents 63.7 percent of GDP. The current figure is 7 billion higher than the 122 billion recorded at the end of 2016.
Per the data, out of the GHc129.5 billion, external debt accounts for GHc74.5 billion, while debt incurred internally stands at GHc55 billion.
It is recalled that president Akufo-Addo revealed during his maiden State of the Nation Address on February 21 2017 disclosed that the country’s debt stock ballooned from GHc9.5billion from 2009 to GHc122billion.
Nonetheless, he pledged that he will not allow the country’s economy to plummeted further under his watch.
“I will not allow this country to collapse under my watch. We will reduce significantly the fiscal deficit this year,” he said.
Source: classfmonline.com
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No borrowing has been done ooooo. It is the interest on the 'smart' borrowing that is ballooning the debt. It an inherited legacy.
EI! NPP KKKK I LAUGH HAHAHAHA. ANGEL PARTY NO SIN, NO CORRUPTION AND FULL OF COMPETENCE. WE LIVE TO SEE. GHANA BEYE DE BRUTAL. EVERY LIES WILL BE EXPOSED.
The debt stock is not stagnant. It also has interest rate running with it so even if we don't borrow, it will still increase per the interest rate running with it. Why blame Nana Addos 5-month government for 7 billion; You should rather ask of the interest rate running with it.
"Sika nu wor ha" and Nana is borrowing. In 100 days 7bn. What will it be in 4yrs time. Talk is cheap
talk is cheap
But Dr. Bawumia said we will borrow any money again?. Nana Addo said there is money in Ghana so no need for borrowing? When you lie to win power you lie to defend oooh?
Ifin five months we incurred that then in four years we will head towards 200billion