A National Communications Team Member of the New Patriotic Party (NPP), Paul Kwabena Amaning has clapped back at the former President, John Dramani Mahama for saying every Ghanaian citizen owes GH₵19,000 per the country’s public debt.
John Mahama bemoaned the ballooning debt of the country as hindering investment and economic development projects.
According to him, Ghana’s debt to GDP at the end of 2022 stood at a staggering GH₵ 577 billion. This, according to the Flagbearer of the National Democratic Congress, has made it difficult for the country’s economy to grow.
Addressing leaders of the Trades Union Congress, as part of his Building Ghana Tour, the former president revealed that in 2016, if you shared the public debt of 120 billion among 30 million Ghanaians, each Ghanaian owed Ghc 4,000, however, if you divided the debt of GHC577 billion by 30 million Ghanaians each person will owe Ghc 19,000.
According to the Finance Ministry, Ghana’s public debt increased to GH₵575.5bn as at September 22, 2023.
Ghana’s public debt has increased to GH₵575.5 billion as of June 2023, representing 71.9% of Gross Domestic Debt (GDP).
This is a marginal rise of GH₵6.3 billion compared to the GH₵569.2 billion recorded in April 2023.
According to the Bank of Ghana’s Summary of Economic and Financial Data for September 2023, the country’s public debt has increased by GH₵27.7 billion since January 2023.
In dollar terms, the total debt stock stood at US$52.3 billion as of June 2023.
External debt accounted for GH₵328.6 billion (US$29.9 billion), while domestic debt accounted for GH₵246.9 billion ($30.8 billion).
While the external debt went up by GH₵ 7. 3 billion compared to April 2023 figure of GH₵321.3 billion of domestic debt however saw a slight fall from GH₵ 247.9 billion to GH₵ 246.9 billion for the same period.
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Speaking on Atinka TV‘s morning show, Ghana Nie with Ama Gyenfa Ofosu Darkwah, Paul Kwabena Amaning said John Mahama did nothing for the country, rather, incurred more debt while trying to solve ‘dumsor’.
“John Dramani Mahama did nothing for this country. He could not think outside the box when we had dumsor in 2013, 14 and 15. All he was thinking was buying fuel and a genset to solve the issue. With the genset that you bought, you spent 42 million dollars on fuel every month to import fuel. Where were you getting those dollars from?”
Meanwhile, he said today, Ghanaians are having constant power because of the Gold for Oil policy by Government.
Ghana| Atinkaonline.com| Porcia Oforiwaa Ofori