Dr. Emmanuel Akwetey has attacked government expenditure calling on state institutions to be conscientious.
Executive Director for the Institute for Democratic Governance, Dr.Emmanuel Akwetey Saturday on Joy FM’s Newsfile analysis programme wondered why Ghana is living beyond its means.
“Government is just borrowing to survive and it’s not sustainable”, he says.
He also took a swing at parliament over its role in checking the country’s expenditure.
“Both government and institutional controls are incredibly weak and I personally do not think parliament is doing much about the overwhelming borrowing”.
“Yes we all borrow but have we borrowed to invest in an area that will rapidly give us benefit? …what is the strategy behind the excessive borrowing? Parliament should do the necessary checks”, he advised.
Dr. Akwetey believes Ghana’s economy is headed for a crush if no immediate steps are taken to reverse the current trend of borrowing. He explains that all the needless borrowing “will soon catch up with us”.
He laments the interests on the loans and projects that those interest are expected to reach 10bn cedis by 2016 and adds that the country’s debt situation is the reason we are languishing in darkness.
