accra: The Minority and Majority in Parliament are at odds over Ghana's reported decline in its debt-to-GDP ratio, with the issue emerging as a major point of contention ahead of Finance Minister Dr. Cassiel Ato Forson's Mid-Year Budget Review on Thursday.
According to Ghana Web, the government has touted the reduction of the debt-to-GDP ratio to 44 percent as evidence of improving economic stability and the success of its fiscal management measures. However, the Minority has dismissed the celebration as premature, arguing that the figure does not accurately reflect the nation's financial health.
Speaking on behalf of the caucus, Minority Spokesperson on the Economy, Kojo Oppong Nkrumah, contended that the debt-to-GDP ratio alone does not present a true picture of Ghana's debt burden. He emphasized that a proper assessment of the country's debt position must consider other financial obligations and economic pressures, insisting that the headline figure should not be used as the sole measure of Ghana's fiscal health.