Former Finance Minister, Yaw Osafo Marfo has stated that policies introduced under the Mahama-led administration has eroded all the economic gains made by the late President Mills.
This comes on the back of a mid-year review by the Finance Minister which indicates that the prospects for the economy is bright since to him all the indicators are pointing in the right direction.
However, in an interview with Citi News, the former Finance minister described the situation as very disheartening, insisting that the country has deteriorated into the abyss under the current administration; and that, it will only take a miracle for the economy to recover.
“Mills took inflation from 18 percent and brought it to single digits. Where are we today? We are almost back to 18 percent. Mills ensured growth to about 14 percent. Where are we now, we are at about 3.6. It[economy] is deteriorated. It is quite sad but that is the reality,” the former Finance Minister indicated.
His comments come a day after a Member of Parliament (MP) for Obuasi West, Kwaku Kwarteng raised concerns about the state of the economy.
The MP pointed out that the economy is in distress and emphasized the need for government to put in place austerity measures to revive it.
He made the comment while responding to Seth Terkper’s assertion that the Mahama-led administration is committed to making the governing National Democratic Congress’s (NDC) transformation agenda for Ghana a reality.