Ghana’s economy at ICU due to mismanagement not Covid-19- Mahama
Ex-President John Mahama has taken a swipe at Akufo-Addo-Bawumia-led Administration for attributing the crippling Ghanaian economy to the impacts of Covid-19.
According to him, the economy has been at Intensive Care Unit (ICU) before the influx of infectious covid-19.
Speaking at NDC Professional forum on the state of the economy, on 6 September 2021 in Accra, H.E Mahama said ” Reckless election expenditure led crippling Ghanaian economy. If not the World Bank, the economy would have collapsed.
“This is the reason for excessive borrowing. But, the fact is that you can’t continue to borrow more than what you earn. Over 70% of tax revenue is used to service debt”, Mahama
As at March, Ghana’s debt stock stands at 332.4 billion cedis.
“Akufo-Addo government has borrowed twice the external debt stock they came to meet”, Mahama said.
According to Mahama, “We don’t run economy and governance with PR and sloganeering. Akufo-Addo in opposition calculated how much every Ghanaian will pay if the then debt stock during my regime is shared and concluded that every Ghanaian will pay 4,000 putting it on social media, and now reality check shows that every Ghanaian will pay more than that”.
Source: africaneditors.com/ African Editors