The Senior Minister-designate, Yaw Osafo Marfo has stated that the Akufo-Addo led administration will certainly borrow to help their agenda of resuscitating Ghana’s ailing economy.
The former Finance Minister, however, stated that the NPP government will do things differently so the economy is not burdened further.
“We’ll certainly borrow…but under certain arrangements…we will borrow to refinance to change your whole debt profile that is what we will be seeking to do,” Mr. Osafo Marfo told the appointments committee of parliament Friday during his vetting.
He also lamented the poor management of the economy in the past indicating that the economy of the country should be “running and not crawling”.
Answering a question on how the NPP government can generate revenue to restore teachers’ and nurses’ allowances, Mr. Osafo Marfo said with prudent management of the economy, enough funds could be raised to address many challenges.
“…Fundamentally, Ghana’s economy is strong…what is left is the management of the resources. Debt-servicing is seven per cent of GDP, growth is three per cent of GDP. Teachers and nurses’ allowance is 0.1 per cent of GDP, so you can more than pay those allowances if you manage resources well.”
