Mahama’s 24-hour economy plan a remedy for Ghana’s economic crisis – Minority

The Minority in Parliament has announced that the main opposition National Democratic Congress’ (NDC) proposed 24-hour economy plan is intended to mitigate the economic crisis precipitated by the governing New Patriotic Party (NPP).

The caucus asserts that the Akufo-Addo administration’s reckless borrowing has escalated Ghana’s debt to over GHC740 billion without delivering any tangible benefits.

Eric Opoku, the Ranking Member of the Food, Agriculture, and Cocoa Affairs Committee, underscored the gravity of the situation in a recent press briefing.

“We have been reckless and irresponsible in the last seven years in our borrowing as a nation. From March 6, 1957, to January 7, 2017, Ghana was 60 years old, and our total debt was GHC120 billion."

“Now, within the last seven years, we have increased our debt stock to GHC742 billion. This indicates that in the last seven years, we have borrowed GHC622 billion, unprecedented in the history of our country,” Mr. Opoku stated.

He emphasized that the NDC’s 24-hour economy plan is the necessary remedy for the current economic turmoil.

“To get us out of this mess, what we have to do is work hard."

“We used to work for 8 hours. What we’re saying is that we’re not going to rest for the remaining 16 hours. Let’s make economic use of all these hours,” Mr. Opoku explained.