Isaac Adongo, a member of parliament for Bolgatanga Central and a member of the National Democratic Congress (NDC), has criticized President Nana Addo Dankwa Akufo-Addo for the way he has handled the economy in Ghana.
He asserted that the president has demonstrated a lack of ability to lead the economy.
The current economic crisis, according to the ranking member of the finance committee, is proof of what he is saying.
Mr. Isaac Adongo said on Joy FM’s Top Story on Wednesday, “It is obvious that you could not manage this economy even without Covid-19.”
He added that “as a matter of fact, the total revenue was 70 billion we only increased that expenditure by 30 billion to 100 billion in 2020. Since that year, we spent 129 percent of our total to service debt.”
According to him, the country’s government had to borrow 29% of its income during that time period in order to pay its debts because the revenue it had collected during that time period was not even enough.
“No country will survive on that,” he noted.
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“You are managing your fiscals such that you are not overspending beyond revenues that you don’t have,” he said.
Mr. Adongo noted that as a result “it is quite clear that this country has been in very bad hands and we’ve not taken good care of our economy for all these years.”
He made his remark after President Akufo-Addo defended government spending since taking office in 2017 on March 8 during the State of the Nation Address.
The President claims that his government has been honest about how it uses borrowed money.
According to President Akufo-Addo, his administration only spends money on urgent and essential needs.
