The Bank of Ghana has released the first quarter report of the country’s Financial and economic portfolio. According to the data, government has borrowed 16.6 billion with additional 38 billion Ghana cedis.
Speaking to Radio Ghana on the implications of the figures a Financial Analyst Prof. John Gatsi said the debt level is too high.
He said the government has not committed itself to using the money for the infrastructure and social services for which the money was borrowed.
According to him these borrowing was done before covid-19.
Prof. Gatsi said as at now, Ghana’s finances are NOT balanced, which is a serious concern.