Government borrowed as if the world is coming to an end – Eric Opoku

The Member of Parliament for Asunafo South Constituency, Eric Opoku, has blamed government for continuously borrowing for consumption, which has led to the country’s current economic crisis.

While reacting to a statement made by Ofori-Atta on the government’s Domestic Debt Exchange Programme (DDEP) in parliament on, Thursday, February 16, 2023, the MP criticized government for borrowing uninhibitedly as

Read full article.if the world was coming to an end.

“Mr. Speaker, we are where we are because of their unbridled borrowing for consumption. When he [Ofori-Atta] took over, the total debt stock of our nation was a hundred and twenty billion as reported by Bank of Ghana. Today you are here reporting that our debt within six years has ballooned to five hundred and seventy-five billion Ghana cedis, indicating that within six years, you have added four hundred and fifty-five billion to the national debt stock,” he said.

He added, “What did you use that money for? You’re an investment banker. You know when you borrow, you’re expending future revenues and you will pay in future. How did you invest the resources? Today we are being asked to repay and we can’t get the money to pay, just because you borrowed for consumption.”

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PI/DA