Finance Minister, Ken Ofori-Atta says the current government inherited a collapsed economy.
Presenting the nation’s budget for 2020, the first full year in four without the IMF looking over the government’s shoulder to Parliament on Wednesday, November 13, he said the weak fundamentals of the economy meant that the NDC had to seek an IMF bailout. The difference now is stark, this is real change.”
“Our government inherited an economy that had collapsed under the former administration and we’ve turned things around.”
“The economy before President Akufo-Addo was suffocating, businesses were working to pay utility bills, the banks were not doing well, unemployment was high and businesses were not doing well.”
He said cedi depreciation rate under the NPP government has been the slowest since 2012.
According to him, Ghana has been one of the fastest growing economies in the world for the last two years.
“We promised to move the economy from one focused on taxation to one focused on production and we’ve done that in three years.”
“Without macro-economic stability all the goals we have set for ourselves would not be achieved.”
He denied any new imposed taxes.
“We have not imposed any new taxes.”
