Former President John Dramani Mahama has insisted that the country’s most prosperous economic management was under late president John Evans Atta Mills, of whom he served as Vice President.
“In the latter years of the President John Agyekum Kufour Administration, we discovered oil in commercial quantities, and we joined the league of oil producing countries. A global financial crisis reared its head around this time, and this also impacted our economy negatively.
“In came the Mills administration under which I had the privilege of serving as Vice President and Head of the Economic Management Team. We in turn inherited a large budget deficit and huge arrears as well as a depreciating currency.
Many people tend to overlook the fact that it was during this era that Ghana recorded its most prosperous period of economic management.
“We had the highest levels of economic growth before oil production kicked in. For instance, in 2010, we grew at 8% without oil and at 14.4% with oil in 2011, the highest in 40 years. Non-oil growth for that year was 8.4%. The following year, 2012, we grew at 9.3%. We achieved the longest sustained period of single digit inflation of 33 months, among several other notable milestones.