Sunday, May 19, 2024

Mahama managed the economy poorly – Danquah Institute

Executive Director of Danquah Institute, Richard Ahiagbah, has said the Mahama-led administration mismanaged the economy during their tenure of office.

Addressing the media on Wednesday, November 25, 2020, Mr Ahiagbah stated that “available economic data suggests that the NDC has over the years managed the economy poorly. This is evidenced by the unprecedented poor macroeconomic indicators.”

He continued that “it is worth recalling that the average annual growth rate under the Mahama-led administration was 4.0%, GDP per capita growth rate was as low as 1.6%, inflation as of 2016 was 17.5%, the highest recorded in the last decade.”

Mr Ahiagbah opined that the mismanagement of the economy badly affected the growth of other sectors which equally had dire consequences on the country.

“The mismanagement of the economy significantly impacted all sectors culminating in the decline of output in the industrial sector, the worst hit from 6.6% in 2013 to 1.2% in 2016.”

According to the Danquah Institute boss, the NDC resorted to the International Monetary Fund (IMF) bailout of $912 million to save the ‘dying’ economy.

He asserted that it took the intervention of the governing New Patriotic Party to rescue the country from IMF.

Over the years, President Nana Addo Dankwa Akufo-Addo has made known that he inherited an ailing economy of the opposition National Democratic Congress.

Following the assertion, he touted that his government has so far tried their best to put the economy back on track.


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