Finance Minister Mohammed Amin Adam has challenged the opposition National Democratic Congress (NDC) over claims that the economy was better managed during their tenure than the current administration.
In an interview on the Asaase Breakfast Show on Friday, July 26, Amin Adam highlighted that despite facing global challenges such as COVID-19 and the Russia/Ukraine war, Ghana’s economy shows signs of recovery and growth. He countered NDC criticisms by comparing current economic figures to the previous administration’s performance.
Amin Adam pointed out that the economy is projected to grow at 3.1% this year, with the potential for even higher growth due to additional initiatives like the GHC8.2 billion SME programme and the second phase of Planting for Food and Jobs, which were not accounted for in initial projections.
He also addressed fiscal deficits, noting that under the NDC administration, Ghana recorded deficits of 7.1% in 2015 and 6.3% in 2016. In contrast, the current administration recorded a deficit of 3.3% last year despite challenging economic conditions. He questioned the NDC’s claims of superior performance when the deficit figures during their time were significantly higher.
Amin Adam stated, “How can a non-performing economy record a 3.3% deficit, while an economy allegedly performing well recorded a 6.8% deficit? I don’t understand what they mean when they say they did better and we are doing poorly.”
He emphasised that the current administration’s policies and interventions aim to stabilise and grow the economy despite the global economic challenges.
Listen to Mohammed Amin Adam in the attached audio clip below:
