Business News of Saturday, 6 April 2019Source: Myjoyonline.comIt’s impossible to manage Ghana economy without borrowing – Prof. BokpinProf. Bokpin says the NPP has better figures in managing the economy than the NDCOnce a country runs a budget deficit, it is impossible to avoid borrowing, whether the monies come from abroad or from the local market. Finance lecturer at the University of Ghana, Godfred Bokpin, who espoused this, used it to defend government’s borrowing. Prof. Bokpin said the 2017 budget, “which had received Parliamentary approval,” had exceeded the country’s revenue. “…that budget deficit is an indication of the borrowing requirement of the government,” he said; adding that the 2018 and 2019 budgets also have a deficit which must be financed. The debt of Ghana in 2016, was GH¢122 billion which has increased under President Akufo-Addo to GH¢173 billion in 2019.

Source: GhanaWeb April 06, 2019 12:56 UTC