The ruling New Patriotic Party (NPP) government has cleared debts up to GHS 6 billion which it inherited from the erstwhile John Mahama administration, the Minister of Finance and Economic Planning, Ken Ofori-Atta, has said.
According to him, the National Democratic Congress (NDC) left behind huge debts, running into billions of cedis during their eight-year stay in power.
Mr. Ofori-Attta said the current government has, however, done well to manage the situation.
He explained that but for the prudent economic management of the NPP government, the country would have been plunged into a crisis.
“I am pleased to report that by the end of 2017, our collective efforts have put the economy back on track,” he said while presenting the mid-year budget review in Parliament.
“We have prudently utilised the very limited resources over the last 18 months to stabilise the economy and ease the people’s burden, which has resulted in real money in their pockets.“
The mid-year budget review is in line with Ghana’s Financial Management Administration Act.
This Act demands that the Minister for Finance appears before Parliament to submit a Mid-Year Fiscal Policy review.