Former President John Dramani Mahama has criticised the Akufo-Addo-Bawumia-led administration for creating the worst economic indices in the country’s history.
He says the New Patriotic Party (NPP) government has worsened the unemployment situation in the country since taking over, with inflation and interest rates being on the ascendancy.
Speaking at the 8th CEO summit Monday, May 27, 2024, the former President noted that with the NPP government in power, “unemployment has jumped to 14.7% from 8.5% in 2017, the highest level recorded in the history of the 4th Republic; inflation is above 25%, and the current interest rates range between 30% and 50%.”
He continued that “the exchange rate, which was previously at 4.00 Ghana Cedis to the US dollar, has crossed the 15 Ghana Cedi threshold, and there appears to be no end in sight to the deterioration of the Cedi.”
According to Mahama, the government, despite the poor indices, “remains unconcerned, unwilling to cut expenditures, and continues to spend more on creature comforts instead of investing in the transformational infrastructure that will propel this nation forward.”
The annual Ghana CEO Summit, founded in 2016, has participants of over 500 topmost CEOs, Heads of State, entrepreneurs, business leaders and policymakers from West Africa and around the world.
The one-day Summit is themed “Reigniting Business and Economic Growth: Charting a Path Forward; Economic Diversification and Artificial Intelligence Transformation. A Private-Public Sector CEO Dialogue & High Impact- Learn.”
John Mahama assured the gathering that “a new NDC administration will work with you to create a conducive environment for businesses to thrive.”
