[ 2015-04-28 ]

Gov't exceeds borrowing targets for Q1 2015 - Group Nduom Research
According to a report by the research wing of
finance powerhouse, Group Ndoum, Government has
ended the first quarter of this year spending more
than it had targeted.

According to the economic report, the government
ended the first quarter of 2015 spending a total
of 16.08 billion Ghana cedis from the domestic
market, representing about 3.37 billion Ghana
cedis more than what government had set to borrow
for the first three months of this year.

The report also revealed that the percentage of
the domestic debt, which stood at 76 billion Ghana
cedis as at December has gone up by 53 percent.

The government is hoping to borrow about 25
billion Ghana cedis for the next half of this
year, however, Head of Research at GN Group,
Samuel Kofi Ampah, says the development is not
good.

According to him, a 25 billion Ghana cedis
additional debt could sink government into a deep
debt trap that could increase the cost of
borrowing for the private sector.

Source - Joy News

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