The Minority in Parliament says Ghana’s economic fundamentals present a bleak picture for the country, adding that each of the 25 million Ghanaians, including new born babies owe Ghc2000 through no fault of theirs.
According to the Minority, the current economic fundamentals are “hopeless and cannot be described as sound by any stretch of imagination.”
It said the spiraling public debt stock which is now GHC 55.6 billion must be urgently tackled. “As we speak today, every Ghanaian, including babies who are born as we speak owe GHC 2, 000,” he said.
Minority Leader Osei Kyei Mensah Bonsu told Journalists at a press conference to react to President John Mahama’s state of the nation address that, the current Government appears to have lost a grip on the economy.
The Suame Legislator said the current economic woes can be put down to the President and his Government incompetence.
He cited the ailing local currency to buttress his side’s point, adding that the currency will be worse off by the end of the second quarter of the year.
“The cedi is now selling at 2.8 to one dollar and continues to fall at an accelerated rate. In fact, it has depreciated by as much as 17. 6% in the first quarter alone this year compared with the depreciation of 1.1% in the same quarter last year,” Kyei Mensah Bonsu said.