The first step to halting the rising public debt stock is to vote out the New Patriotic Party (NPP) in this year’s election.
In his view, the NPP administration is not acting in the interest of Ghanaians.
“When you vote people into government you expect them to think for the people but these people think for their stomachs. The first step to stop the bleeding is to let this government go.
“Then what the next government should focus on are the areas we import so much and use hard currencies to import, let us begin to deal with those sectors,” he said on the Big Issue on TV3 Friday, July 27 while commenting on Ghana’s public stock which stood at GH¢742 billion, representing US$50.9 billion as of June 2024, according to the Finance Minister Dr Mohammed Amin Adam.
Dr Amin Adam further assured Ghanaians that the government is living within its budget.
He also said that they have exceeded the midyear revenue target by 0.2 percent by end-June, 2024.
“In effect, Mr. Speaker, we are living within our means. Indeed, consistent with our programme with the IMF, we are on course to achieving a primary surplus of 0.5 percent of GDP by end of the year.
“We have successfully concluded the second review of our Extended Credit Facility with the International Monetary Fund (IMF) which led to the disbursement of the 3rd tranche of 360 million US Dollars, bringing total disbursement to about US$1.6 billion; We have completed the Debt Restructuring programme with the Official Creditor Committee (OCC), covering US$5.1 billion dollars resulting in approximately 2.8 billion US Dollars of debt relief. This means that we will not service our debt to our official creditors from 2023 to 2026;
“We have embarked on major reforms of State Owned Enterprises (SOEs), especially those in the Energy and Cocoa sectors, to be fiscally prudent and reduce their risk on the budget,” he said.
Source: 3news.com
