Former Deputy Minister of Finance, Dr. Stephen Amoah, has dismissed President John Dramani Mahama’s claim that the Akufo-Addo administration “criminally mishandled” Ghana’s economy.
Dr. Amoah, responding to the president’s criticism, argued that the previous government made significant economic improvements.
Speaking on Eyewitness News on Thursday, February 20, 2025, he cited data to counter the accusations, pointing to notable growth across key sectors.
He highlighted that GDP growth increased from 3.4% in 2016 to 6.3% in 2024, nearly doubling the figure they inherited. Additionally, he noted agriculture growth rose from 2.7% to 4.7%, industry expanded from 4.3% to 8.9%, and the services sector improved from 2.8% to 5.0%.
Key fiscal indicators, including primary balance, gross public debt-to-GDP ratio, and overall fiscal balance, he added, also showed marked progress.
“All these important primary macro indicators that are used to determine the state of any country or an economy are performing twice as well as what we met in 2016 while going through one of the most severe economic crises in the world.
“We faced a situation where public servants were asked to stay home but were still paid, whereas the private sector laid off about 40,000 people. Countries such as the UK and the USA saw inflation rise from about 1% to 11%. Now, we who have managed these challenges and set the economy on a positive trend are being accused of criminally mishandling it? That statement must be properly interrogated,” he stated.
Dr. Amoah challenged the basis of President Mahama’s accusations, urging the current administration to provide evidence.
“You can’t say this about your country’s economy without giving figures. They are coming to read the budget; they should change the figures and let us see. So, I respectfully and humbly disagree with the president. Maybe he is being misled because I don’t think we ran the economy criminally,” he added.
Ghana’s economy was ‘criminally mishandled’ under Akufo-Addo – Mahama