We are facing the worst economy in the Fourth Republic – Mahama

Presidential Candidate for the National Democratic Congress (NDC), John Mahama says Ghana is facing the worst economy ever in the history of the Fourth Republic.

Speaking in an interview streamed on his Facebook page, Mr. Mahama disclosed that the resilient economy as touted by the Akufo-Addo administration is a farce.

“How did the strong and resilient economy that Nana Akufo-Addo and Bawumia talk about crumble in the space of six months?” he quizzed.

“We are facing the worst economic situation in the entire history of the Fourth Republic. The economy has never been this bad. There is a hole in this economy.”

Mr. John Mahama further alleged that Finance Minister, Ken Ofori-Atta has been “cooking the books” after assuming office in 2017.

He accused Mr Ofori-Atta of authorising Ghana Revenue Authority (GRA) to borrow money from commercial banks to meet the domestic revenue target in 2019.

“The commercial banks have been deducting the loan that they gave to show good faith for figures in 2019 when the coronavirus struck.

“That is why the economy is worse than it is. Any revenue that comes, the commercial banks are taking back their money,” he added.

According to Mr Mahama, a much better economy was passed on to the Akufo-Addo-led administration with an estimated growth of about 8% as projected by the World Bank and IMF.

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