NPP vs NDC: Akufo-Addo government claims ‘better performers’ on key Macroeconomic Indicators
The outgoing Akufo-Addo administration has reiterated its claim of performing better relative to the administration it inherited when it comes to the economy as borne out by data from the Bank of Ghana and the Ministry of Finance on several key indicators.
Government sources argue that despite the severe economic disruptions caused by the COVID-19 pandemic, which posed challenges for economies worldwide, Ghana’s macroeconomic performance under President Akufo-Addo has shown marked improvement compared to the previous administration led by John Mahama.
They point to data suggesting the outgoing administration has outperformed its predecessor in 10 out of 13 key macroeconomic indicators, with GDP growth being the most notable achievement.
In 2016, as John Mahama exited office following his electoral defeat, Ghana’s economy recorded a GDP growth rate of 3.9%. In contrast, despite the global economic fallout from COVID-19, Ghana’s GDP growth rate currently stands at 7.2%, showcasing the resilience of the economy under the Akufo-Addo government.
Other areas where the Akufo-Addo administration insists to have made significant progress include agricultural growth, industrial growth, per capita income, budget deficit, primary balance, trade balance, current account-to-GDP ratio, gross international reserves, and cumulative exchange rate depreciation.
Other areas where the Akufo-Addo administration insists to have made significant progress include agricultural growth, industrial growth, per capita income, budget deficit, primary balance, trade balance, current account-to-GDP ratio, gross international reserves, and cumulative exchange rate depreciation.
On the other hand, the Mahama administration holds a better record in three of the 13 indicators: public debt, average inflation, and the average 91-day treasury bill rate.
Below is a comparative breakdown of the performance of the two administrations across these key macroeconomic indicators:
On the other hand, the Mahama administration holds a better record in three of the 13 indicators: public debt, average inflation, and the average 91-day treasury bill rate.
Below is a comparative breakdown of the performance of the two administrations across these key macroeconomic indicators:
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