A flagbearer aspirant of the opposition National Democratic Congress (NDC), Ekwow Spio-Garbrah, is accusing the ruling New Patriotic Party (NPP) of borrowing at an alarming rate.
According to him, in the run-up to the 2016 general elections, the current ruling party, then in opposition, complained a lot about the rate at which the government at the time was borrowing but at the last count, “they have borrowed about 10 billion dollars”.
Speaking on GhanaWeb’s ‘21 minutes with KKB’, the former Trade and Industry Minister under erstwhile John Mahama administration stated that when he becomes the President of Ghana, he will have much tighter public sector appointment process, where the growth of the public sector will reflect the growth of the economy.
He noted that as a government “you have to inject capital into the private sector to grow.”
Mr Spio-Garbrah stated further that “there is a lot of assets in the country….If you go to the airport residential area and cantonment most of the houses there have been paid for….they have been paid for twenty-thirty years ago. Most Ghanaians build their houses without mortgages so a lot of capital is locked up in people’s homes.”
That capital, according to the former minister, “can be liberated through all kinds of mechanisms for productive activity.”