Cut down unnecessary expenditure to reduce public debt – Economist

Thu, 14 Oct 2021 Source: happyghana.com

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Chartered Economist, Emmanuel Amoah-Darkwah, has asked the government to review its expenditure in order to reduce public debt.

He posits that most of these expenditures are not necessary and yet government embarks on projects that only run the country into more debt.

His advice comes at the back of the former President Mahama’s statement that every Ghanaian would have to cough out up to GHC11,000 if the public debt stock accrued under President Akufo-Addo’s government is shared per head.

Emmanuel, speaking on how government can lessen the burden on the citizenry expressed on the ‘Epa Hoa Daben’ show: “There are some unnecessary debts that we incur on ourselves. We are too extravagant in some of our spendings. When the ministers and presidents are travelling, we make expenditures. As a country that has low revenues, we should be able to make some unpopular decisions to cut some of the expenditure and manage the little we have.”

He admitted that public debt is one of the major problems affecting the country’s economy especially with “its accompanying interest rates.” “At the end of the day, the money that could be used to purchase items for development will be used to pay debts,” he added.

Former president and 2020 flag bearer of the opposition National Democratic Congress (NDC), John Dramani Mahama has said that every Ghanaian practically owes GHC 11,000 if our debts were to be shared per head.

He made this statement during his time with party faithful as part of his ‘Thank You’ tour of the Eastern region.

According to him, the country’s economic fundamentals have fallen apart under the current dispensation, accounting for untold hardships on citizens.

Source: happyghana.com
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