The Finance Minister, Dr. Cassiel Ato Forson, has accused the central bank under the Akufo-Addo administration of driving inflation to unprecedented levels.
Unlike the Akufo-Addo administration, he said President Mahama has chosen the path of structural reforms and transformation.
Dr. Forson also accused the previous Akufo-Addo administration of incompetence in the management of the economy.
Delivering the mid-year budget on Thursday, July 24, he noted that interest and inflation rates have dropped drastically, reflecting improved macroeconomic conditions.
Similarly, he said the cedi has demonstrated exceptional resilience in recent months.
“We have made significant progress; the signs of recovery are visible,” he stated.
Dr. Forson further said that the signs of economic recovery under President John Dramani Mahama are visible for everyone to see.
He explained that at the time the Mahama administration took over governance on January 7, the economy was struggling.
He said they inherited a weak financial sector with significant non-performing loans. He also noted that they inherited a derailing IMF programme.
“Indeed, as President Mahama said, the whole of Ghana was a crime scene,” he remarked during the mid-year budget presentation.
3 news.com
