The Minority in Parliament has emphasized that the National Democratic Congress (NDC) is proposing a 24-hour economy to address the economic challenges caused by the New Patriotic Party (NPP) government led by President Akufo-Addo.
During a media engagement, Ranking Member on the Food, Agriculture, and Cocoa Affairs Committee, Eric Opoku underscored the transformative potential of the proposed 24-hour economy. He elaborated that this innovative policy would have a multifaceted impact, including the creation of numerous job opportunities for Ghanaians, which would in turn expand the tax base and provide a wider range of prospects for the youth.
Opoku emphasized that this initiative would be a game-changer for the country’s economic landscape. Mr. Opoku further emphasized that the economic woes inflicted by the Akufo-Addo administration demand a diligent and experienced approach to resolve. He expressed concern that Ghana has been recklessly accumulating debt over the past seven years, with a staggering increase of GHC622 billion in the national debt stock.
To put this into perspective, he noted that from Ghana’s independence on March 6, 1957, to January 7, 2017, the country’s total debt stood at GHC120 billion. However, in just seven years, this figure has skyrocketed to GHC742 billion, marking an unprecedented and alarming rate of borrowing in the nation’s history.
