Your government did long-term damage to the economy – Akufo-Addo told

The Minister of Education, Haruna Iddrisu, has accused the Akufo-Addo administration of causing long-term damage to Ghana’s economy, warning that the negative effects will take time to reverse.

In an interview on Citi FM on Wednesday, December 24, Mr. Iddrisu stated that Ghana’s economic challenges worsened significantly from 2022, leaving the country with serious structural imbalances.

“The Akufo-Addo government did long-term damage to the economy. If you assess from 2022, the economy went into an abyss. It will take time to correct the structural imbalances and address some of the problems inflicted on the Ghanaian economy,” he said.

He noted that the country’s economic difficulties cannot be blamed solely on the COVID-19 pandemic, pointing instead to troubling macroeconomic indicators.

“Not just COVID-19, but an economy where inflation was 54 percent, coming down to 23 percent, and an exchange rate of a dollar to the cedi at GH¢16—that is unacceptable. It increased the cost of doing business and crushed the private sector,” Mr. Iddrisu explained.

The Education Minister added that the private sector bore the brunt of these challenges but is beginning to recover following President John Dramani Mahama’s return to office.

He described this revival as part of the government’s Reset Agenda, noting that businesses are gradually regaining confidence and are better positioned to contribute to the country’s sustainable development.

“The private sector is now experiencing a rebirth of opportunity with the return of President John Dramani Mahama. This is part of the gains of the Reset Agenda. They are starting to find their footing and contribute to the sustainable development of the country,” he said…CONTINUE MORE READING>>>