General News of Thursday, 8 January 2015
A senior Economics Lecturer at the Kumasi Polytechnic has revealed that President John Dramani Mahama’s government spent almost Ghc60 billion in governing the country.
The amount, Thomas Kusi Boafo said was greater than the budgetary expenditure of his party, the National Democratic Congress (NDC), from 2009 to 2012.
According to him, notwithstanding this massive expenditure, the President has little to show in terms of development.
“The amount spent by President John Mahama over the two-year period in office is much more than the entire budgetary expenditure of the NDC within four years…,” he said.
The economics lecturer, who was reviewing the midterm performance of the President on Adom Fm’s Burning Issues on Wednesday, said the increasing expenditure of the President was very alarming.
Most of the expenditure, he added, originated from loan facilities that were contracted by the Government of Ghana from other countries and other foreign firms.
He told show host, Afia Pokua that his worry was the fact that the government, instead of finding an alternative means of servicing the loans contracted, was rather borrowing more to service the nation’s debts.
“The government is only borrowing to pay for loans and by so doing increasing the debt burden of the country…,” he said.
Thus, he called on the President to limit the level of expenditure and also halt the contraction of loans.