NPP MPs claim that under the NDC, Ghana’s debt grew by over 261% during 2009-2016, while the NPP has only increased it by 68% since then. They argue this indicates better economic management by the current administration, despite facing global financial challenges.
Members of Parliament from the New Patriotic Party (NPP) have challenged assertions that the Nana Addo Dankwa Akufo-Addo administration borrowed more than previous administrations of the National Democratic Congress (NDC). During a press conference on March 13, 2025, the NPP Minority Caucus provided data indicating that a large part of Ghana’s debt was accumulated during the NDC’s eight years in power before Akufo-Addo became president.
Dr. Gideon Boako, the MP for Tano North, stated that between 2009 and 2016, under NDC leadership, Ghana’s debt stock rose by more than 261%. In contrast, from 2016 to 2024, they argued that the debt stock under the Akufo-Addo administration increased by only 68%.
Dr. Boako highlighted that Ghana’s public debt rose from $8.07 billion in 2008 to $29.2 billion in 2016, marking about a 261.83% increase during the NDC’s tenure. This trend resulted in an annual average increase of approximately 32.75% in the nation’s debt stock during those years.
He further explained that, despite public perception, Ghana’s debt level, recorded at $29.2 billion in 2016, grew to $52.3 billion by 2023, and subsequently fell to $49.3 billion post-debt restructuring, signifying an overall increase of about 68.83% under the NPP.
The NPP’s approach appears to indicate that they have maintained a lower rate of debt accumulation, averaging a yearly increase of 8.6% since 2017, as compared to the higher rate of 32.75% during the NDC government. Dr. Boako concluded that this reflects better economic management by the NPP despite encountering global economic challenges.
In summary, NPP MPs assert that the NDC administration significantly inflated Ghana’s public debt during its governance, with a recorded increase of 261%, compared to the substantially lower 68% increase during the NPP’s tenure. This trend suggests a difference in fiscal management strategies between the two administrations. Advocates for the NPP cite these figures to argue for their superior economic governance.
Original Source: www.ghanaweb.com
