NPP MPs contest claims regarding excessive borrowing under their administration compared to the NDC. They assert that the NDC increased Ghana’s debt by over 261% during its eight years in power, in contrast to the NPP’s 68% increase. They argue that this signifies better economic management under the NPP despite global challenges.
Members of Parliament from the New Patriotic Party (NPP) have contested assertions that the government under President Nana Addo Dankwa Akufo-Addo borrowed excessively compared to previous National Democratic Congress (NDC) administrations. During a press conference held on March 13, 2025, the Minority Caucus presented data indicating that a considerable portion of Ghana’s national debt was incurred during the eight years of NDC governance prior to the current administration.
Dr. Gideon Boako, the MP for Tano North, conveyed that the debt stock of Ghana escalated by over 261% during the NDC’s tenure, which was administered by President John Dramani Mahama and the late Prof. John Evans Atta Mills. In comparison, he noted that under the Akufo-Addo administration, the debt stock grew by only 68% over a similar duration.
Dr. Boako elaborated further, stating that Ghana’s public debt increased from $8.07 billion in 2008 to $29.2 billion by 2016, reflecting an approximate growth rate of 261.83% during the NDC’s time in office, averaging an annual increase of 32.75%.
Furthermore, he discussed the evolution of public debt under the NPP, which rose from $29.2 billion in 2016 to $52.3 billion by the end of 2023. This reflects a total increase of about 68.83%, with a subsequent reduction to $49.3 billion following a debt restructuring initiative.
Dr. Boako argued that since 2017, the NPP government has maintained an average annual debt increase of only 8.6%. This stands in stark contrast to the higher annual growth rate observed under the NDC administration, which suggests more effective economic governance by the NPP despite the challenges posed by the global economic environment.
In conclusion, the NPP MPs assert that the increase in Ghana’s public debt during the NDC government surpassed 261%, whereas the current administration has maintained a significantly lower debt increase rate of 68%. This comparison is posited to reflect better economic management by the NPP amidst ongoing global economic challenges. The discourse surrounding national debt remains a crucial focal point in evaluating the economic policies of successive governments.
Original Source: www.ghanaweb.com
