Chief Executive of Dalex Finance, Ken Thompson has expressed concern about the country’s ballooning debt and public expenditure.
According to him, the ongoing economic downturn has exacerbated the economic hardship in the country raising the need for immediate measures to improve living conditions in the country.
He said whereas the government had benefitted from a 50 billion cedis injection into the economy in 2022, the same cannot be said of 2023.
As the country heads towards an election year, he said should expenditure not come under control, the government’s debt will return to unsustainable levels.
“In 2024, there is nothing coming in and we have to start repaying our debts and that really worries me,” he said.
He stressed that politicians who will try to downplay the harsh economic conditions in the country clearly do not understand the situation the country finds itself in.
“Any politician that is not able to articulate the challenges we will face and comes to us making us seem as if we will become like Bahamas tomorrow either is lying or does not understand the challenges ahead.”
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