Chairperson of the Finance Committee of Parliament, Dr. Mark Assibey-Yeboah has revealed the Mahama-led administration has depleted the state’s coffers.

According to him, Ghana’s economy is in tatters due to sustained borrowing by the National Democratic Congress (NDC) government.

Dr. Assibey-Yeboah’s comment comes after Vice President, Dr. Mahamudu Bawumia claimed the past government hid GH¢7 billion expenditure from the nation’s financial books.

The Minority, at a news conference in Accra, have described as ‘malicious’ the Vice President’s allegation.

Former Deputy Finance Minister, Cassiel Ato Forson maintained that the amount is still at the Finance Ministry and has not been squandered as is being alleged.

But Dr. Assibey-Yeboah on Asempa FM’s Ekosii Sen programme Wednesday said the conduct of the NDC was a deliberate attempt to conceal information to reduce government debt.

Currently, he indicated that, Ghana’s debt stock has moved from 9.5 billion cedis in 2008 to 126 billion cedis in just eight years under former President John Mahama.

“Mahama-Mills government has borrowed 117 billion cedis in eight years and they wanted to massage these figures to make the government look good” he fumed.

The Finance Committee chairman was however not surprised at the conduct of the NDC since “they under reported to IMF and Ghana was fined for that”.

He was however worried the latest exposé could affect the projects of the Akufo-Addo government since they would have to pay the debt before undertaking any new projects.

“If we have been saddled with 7 billion debt then we are being thrown off gear. They [NDC] have tied the hands of the government” he bemoaned.

This notwithstanding, Dr. Assibey-Yeboah was confident the experienced members on the economic management team would turn things around.

“The economy is in tatters but I’m convinced in the shortest possible time, we will see an improvement” he added.