The Presidential Candidate of the Independent People’s Party (IPP), Kofi Akpaloo, has professed doom for Ghana’s economy in 2016 if President John Dramani Mahama and his economic management team don’t manage it well.
According to him, the worst of the country’s economy is yet to happen as Mahama-NDC government’s own 2016 budget projects that the next year is going to be a very difficult year.
Speaking to Peacefmonline.com, Kofi Akpaloo stressed the 2016 budget contains no economic stimulus to promote growth and jobs; indicating that the economic bad news could hit Ghana just in time for Election 2016.
“I am not a prophet of doom, but can say if we don’t manage our economy well the worst is yet to happen…the worst part is that NDC government has planned to continue the borrowing spree to finance repayment of debt and interest obligation due next year.
“Ghana is at critical juncture, failure to raise an additional GHc9.0billion debt 5.77% of GDP next year, will force the government to default on GHc10.5 billion interest payment obligation an equivalent of 6.6% of GDP. The government has no other option than to borrow to pay debt”.
He concluded that Ghana’s economic picture is bleak and doesn’t look healthy, thus, the government can only survive on additional borrowing to help pay off interest due next year; stating that the country is not safe.
|Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.|