The former rector of the Ghana Institute of Management and Public Administration (GIMPA) Prof Stephen Adei has said Ghana is going through its worst economic and financial crisis in decades due to “excessive borrowing” by the government.
Delivering the state of the nation address, President Nana Akufo-Addo mounted a strong defence for the government’s continuous borrowing in the wake of an economy battered by COVID-19 and Putin’s war,, insisting that his government has not been reckless in spending.
“We have not been reckless in borrowing and spending. It is worth noting that the debts we are servicing were not only contracted during the period of this administration”.
“Considering the amount of work that still needs to be done on the state of our roads, the bridges that have to be built, considering the number of classrooms that need to be built, the furniture and equipment needed at all stages of education… I dare say no one can suggest we have over-borrowed or spent recklessly,” Akufo-Addo said.
Source:Mybrytfmonline.com
