Mid-year budget: Ghana’s financial situation is dire, according to the Finance Minister, who likened the country’s mid-year budget to a crime scene.
The Finance Minister, Dr. Cassiel Ato Forson, has said that at the time the Mahama administration took over governance on January 7, the economy was struggling.
He stated that they inherited a weak financial sector with significant non-performing loans. Additionally, he noted that they inherited a derailing IMF programme.
“Indeed, as President Mahama said, the whole of Ghana was a crime scene,” he remarked during the mid-year budget presentation.
Dr. Ato Forson accused the previous Akufo-Addo administration of incompetence in managing the economy.
He also blamed the central bank under the Akufo-Addo government for driving inflation to unprecedented levels.
In contrast to the previous administration, he said President Mahama has chosen the path of structural reforms and transformation.
“We have made significant progress; the signs of recovery are visible,” he added.
