He said the practice of borrowing money and using it for other things that investing it has caused the country a great deal. “At the end of December 2016, interest payment on total public debt was about 150% of capital expenditure. What this means is that if you are to spend one Cedis on capital expenditure, you need to spend one cedi fifty pesewas on paying your interest. We are spending more on interest payment than even capital expenditure because we are borrowing left, right, and center," he explained. Cassiel Ato Forson made this known during an NDC Ranking Members Forum on the Policy Dialogue on the Economy in Accra.

Source: GhanaWeb July 26, 2021 18:00 UTC