Ex President John Dramani Mahama raises concern about the current economic challenges Ghana is facing, attributing to the mishandling of the economy by the Nana Addo Dankwa Akufo-Addo led government.
The EX Ghana President highlighting the economy woes currently facing the country. say, the COVID-19 pandemic has nothing to do with the present economic crisis Ghana is facing.
He blamed the current challenges facing Ghana, on the mass borrowing habit and thoughtless spending amongst others, that contributed hugely to todays situation Ghana economy is facing, according to him, the economy was a negative view even before the pandemic.
The present economic strain has developed into a number of challenges which includes the rising cost of fuel and rising inflation.
The Cedi is also facing a increasing depreciation, particularly against the US dollar, while the debt of the country has obtained unmanageable level.
John Dramani Mahama reacting to this at the Africa Business Conference at the Harvard Business School in the United States of America, said the government went through the COVID-19 fight without a safeguard.
He illustrated that, “the pandemic has generally affected the economies of Africa nations, but some countries have sailed through more successfully than others due to the resilience of their economies, discipline and prudent use of their resources.”
Ken-Ofori Atta, the Finance Minister at the press conference in Accra last Thursday described “the war in Ukraine could not have come at worst time for the global economy.”
He highlighted the destruction caused by the coronavirus pandemic on the country’s economy.
Pointing out ways to resolve the economy, the minister noted twelve points for cutting down public expenditure inclusive of moratorium on the purchase imported vehicles and foreign travels by the public officials.
He also specified plans to gain more revenue including impressing of Parliament to impose the E-levy.
Ken-Ofori Atta again described plans to feed into the economy $2 billion in the next 2 to 6 weeks.
