The Minority has challenged President John Mahama’s assessment of the economy, arguing that his performance during his first term was weak compared to the strong economic results achieved under former President Akufo-Addo.
At a press conference on Monday, March 3, former Finance Minister Dr. Mohammed Amin Adam dismissed Mahama’s claims, stating that his analysis overlooked key economic indicators that provide a more comprehensive picture of the nation’s economic state.
He emphasized that inflation alone is not a sufficient measure of economic performance, highlighting other critical factors such as real GDP growth, trade balance, current account balance, and the financial sector’s health.
Dr. Amin Adam pointed to economic growth figures to illustrate the difference between the two administrations. He noted that real GDP growth for the first three quarters of 2024 averaged 6.4%, surpassing the IMF’s target of 4% for the year.
This performance, he argued, exceeded expectations and outperformed projections from both the IMF and the World Bank.
In contrast, he pointed out that in 2016, under Mahama’s leadership, economic growth was recorded at 3.4%, falling short of the 5.4% target. The previous year, growth stood at 4%, further indicating an underwhelming economic trajectory.
According to the Minority, Mahama’s handling of the economy during his tenure was weak, especially when compared to the results achieved by Akufo-Addo’s administration, which they claim delivered stronger economic outcomes.
