A member of the Finance and Mines & Energy committees of Parliament, John Jinapor has hinted that the year 2021 will come with lots of difficult times for the Ghanaian people.
According to him, the country has gone broke because of the Akufo-Addo government’s reckless borrowing and expenditure.
“In 2016 when Mr Terkper came here, he requested for about 10 billion [Ghana cedis], today Ken Ofori-Atta is requesting for 27 billion [Ghana cedis]. Out of this 27 billion, over 10 billion of that amount will be used to service debt. It tells you that this country is broke,” he told journalists on Wednesday after the Finance Minister, Ken Ofori-Atta presented the budget statement for the first quarter of 2021.”
He added, “when a middle-income country’s debt-to-GDP crosses the 70% mark, it means you are hugely debt-distressed. All of us should prepare for difficult times next year.”