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Business News of Monday, 26 July 2021


The NPP is giving our children a burden of carrying a public debt that we cannot pay - NDC

Cassiel Ato Forson is a member of the Finance Committee of Parliament Cassiel Ato Forson is a member of the Finance Committee of Parliament

• The NDC in Parliament say they are worried about the future of Ghana’s economy due to the current borrowing of the incumbent government

• They explained that the debts we might leave for our children may never be repaid

• They, therefore, advise the government to begin to borrow smartly

The Minority in Parliament has raised concerns about the future of the country, based on what it says is the un-smart borrowing style of the current government, led by Nana Addo Dankwa Akufo-Addo.

Cassiel Ato Forson, a member of the Finance Committee of Parliament and Member of Parliament for the Ajumako-Enyan-Esiam constituency, explained that with the borrowing streak that the government is on, it will leave huge debts for the future of this nation.

He added that if care is not taken, our children will have to carry such debts on their heads, and may never be able to repay everything.

“I agree with ** when he argued back in 1961 that national debt is a burden for the next generation, and this is especially when the debt is used for consumption expenditure instead of capital expenditure. What the NPP is seeking to do now, they are actually giving all of us – our kids, our next generation, a burden; a burden of carrying public debt, a debt that if we are not careful, we cannot repay,” he explained.

Addressing an NDC Ranking Members Forum on the Policy Dialogue on the Economy in Accra, he advised that the government, like many countries of the world, should borrow but do so smartly.

“So, I want to submit that everyone else borrows but please, borrow smartly. Borrow not for chop-chop, but borrow for things that can repay for itself,” he advised.

The forum is also being addressed by the Minority Leader in Parliament, Haruna Iddrisu.