Presenting the 2017 budget statement and government economic policy in Parliament on Thursday, Mr Ofori-Atta disclosed that the country's debt stock had reached an average of 73 per cent of GDP as at the end of 2016.

Following this, he said there was the need to trigger a national sense of urgency to deal with the deficits.

President Akufo-Addo in his maiden State of the Nation address last week said he was in a hurry to fix Ghana.

“The president did mention that he was in a hurry. Mr Speaker, we must all be in hurry,” the Finance Minister reiterated.

The Finance Minister said Ghana cannot borrow its way out of its many challenges which, according to him, will be tantamount to creating and sharing poverty leading to a loss of fiscal sovereignty.

“So, like the president, we must all be in a hurry to grow our way into prosperity,” he stressed.