Minister for Finance, Dr. Cassiel Ato Forson says Ghana’s economy is showing clear signs of recovery, citing falling inflation, declining interest rates and a stabilised currency as evidence of improved fiscal management under President John Mahama.
Presenting the Mid-Year Review Budget to Parliament on Thursday, Dr. Forson said the country’s economic outlook has strengthened considerably since the current administration took over on January 7.
“We have made significant progress; the signs of recovery are visible,” said, emphasising that the cedi has shown “exceptional resilience” in recent months.
Dr. Forson criticised the previous administration for mismanaging the economy, saying they left behind a troubled financial sector, rising non-performing loans, and a faltering IMF programme.
“Indeed, as President Mahama said, the whole of Ghana was a crime scene,” he said.
He also accused the Bank of Ghana under the Akufo-Addo government of contributing to inflationary pressures. “The previous administration drove inflation to unprecedented levels through incompetent management,” he said.
He said the Mahama government had chosen “the path of structural reforms and transformation” aimed at stabilising and rebuilding the economy.
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