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Former President John Mahama delivering his message at the NDC’s 9th National Delegates Congress at Trade Fair Centre has burst the ruling New Patriotic Party’s (NPP’s) bubble for counting on its lower debt to GDP ratio as the Finance Minister read in Parliament last Thursday.

According to the former President, the New Patriotic Party (NPP) administration should not boast of by counting on the rebasing of the economy to show an ‘artificial’ lower debt to Gross Domestic Product (GDP) ratio as it is not anywhere near the historically low 11 percent revenue to GDP.

“Currently, the NPP administration is only counting on the rebasing of the economy to show an artificial lower  debt to GDP ratio but which will be totally out of sync with a historically low 11 percent revenue to GDP”, he chided.

He explained that Ghana’s current debt has ballooned from Ghc122 billion at the end of 2016 to Ghc170 billion at the end of September 2018; thus, this amount to a whooping accumulation of almost Ghc50 billion debt in the space of less than 2 years of NPP in power.

He bemoaned that business confidence in the country is down and economic activity is at the standstill as Ghanaians are crying that “Nko Yie”, “Nko Yie”, to wit, it is not well.

He also said that the inept handling of the banking crisis has led to the almost complete collapse of the local finance sector as banks belonging to Ghanaians have been closed but sadly, Akufo Addo government’s approach to resolving the crisis with the indigenous investors has rather created a panic on the remaining surviving Ghanaian financial institutions.

He stressed that the approach of Akufo-Addo’s government has greatly affected Small and Medium Enterprise lending; leading to significant job loses amidst government continues borrowing which has gone out of control, for a party that frowns on borrowing.

“Meanwhile, government borrowing continues to scale out of control; for a party that frowns of on borrowing. The current rate of our unbridled borrowing represent hypocritical and U-turn where words spoken in opposition do not match actions taken in governing”, he averred.

Touching on the achievements of the NDC under his reign, former President Mahama said development in the road sector, education, healthcare, electricity, and water and also in aviation and maritime sectors were clearly visible for all Ghanaians to see.