President Akufo-Addo says Ghana’s economy under former president John Dramani Mahama was an unmitigated disaster.
Responding to accusations by Mr Mahama that he is mismanaging the economy Akufo-Addo said “I wonder whether this statement was made tongue in cheek by the former president. When you look at the record that this political leader, who can accuse my government of mismanagement, there are a few facts that when you put on the table to compare his performance and mine, it would tell you that if what I am offering people is economic mismanagement.”
He continued, “I wonder what words should we describe his (Mahama) stewardship of Ghana. It is an unmitigated disaster, that’s what I would call him.”
“Inflation, when he left office, was 15.4%; today, at the end of July, which are the last hard facts from the Statistical Service, it’s 9%. Interest rates are always a good determinant of how the economy is operating, 32% in December 2016, today, it is 20.6%. We are talking about treasury bill decline in interest rate, we are talking about the trade deficit that was $1.8 billion in 2016, to a trade surplus of $2.6 billion at the end of 2019,” the President said.
“He is not on strong ground when he is talking about the economy. His track record, I am reluctant to use these strong words, but in normal parlance, I would say it abysmal and, therefore, he has no lessons to give me at all in the management of the economy,” President Akufo-Addo added.