Election 2016 Mahama says economy is growing. Statistics shows otherwise

President Mahama said every economic indicator shows the Ghanaian economy is growing without any evidence.

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

In October 2016, the International Monetary Fund (IMF) forecast Ghana's economy to grow to the slowest rate in more than two decades. Ghana will likely expand 3.3 percent this year, the slowest since 1990 according to IMF data, after growing 3.9 percent in 2015, the IMF said in a statement.

But on Saturday at a rally in Tamale, president John Mahama, who is seeking a second term in office, proclaimed that Ghana's economy is growing.

President Mahama said every economic indicator shows the Ghanaian economy is growing without any evidence.

"Our economy is not contracting, our economy is not stagnated, our economy is growing, it is moving forward," he said.

The Bank of Ghana at it last monetary policy committee meeting held that "growth has remained subdued for the most part of 2016 largely due to tight credit conditions and the downturn in commodity prices."

Despite statistics pointing contrary to the president's claims, he maintained that the economy is growing, to loud cheers.

He then pour scorn on the vice presidential candidate of the New Patriotic Party, Dr Mahamadu Bawumia, who has been very critical of his economy management.

"I don't know what statistics some economists are looking at, I don't know the voodoo statistics and voodoo economics they are looking at. This economy is growing, the deficit is coming down, the currency has stabilised, inflation is coming down, and interest rates are coming down."

He also repeated his infrastructure comparison to the US, saying Ghana is already doing what America plans to do.

"Trump says America's infrastructure is in a poor state so he is going to invest millions of dollars in infrastructures. They are going to do it in America, we have done it in Ghana already," he said.

President Mahama also promised to heavily invest in livelihood in second term, adding that that is why he is building the roads and the airports.

"We are going to investment massively in livelihood, and when I say livelihood I mean creating opportunities for our people to be able to find work and put money their pocket," he added.

"That is why we are building the roads, that is why we are building the international airport so that we create the opportunities for our people."

In wrapping his message, the president appealed to NDC members not to be complacent, urging them to turn out in their numbers to vote.

Recommended Articles

Recommended Videos





Top Articles

1 Ministerial Nominees Adwoa Safo, et al face vetting committeebullet
2 Independence History Mike Oquaye says Nkrumah is not "the founder" of...bullet
3 Confusion in NDC Kwesi Pratt drops bombshell: 15 interested in NDC...bullet
4 Life after presidency Mahama kick off book tour in universitiesbullet
5 Ambassadorial Appointments Nana Addo names ambassadors for UK,...bullet
6 Confusion in NDC Former ambassador challenges Allotey Jacobs...bullet
7 Confusion in NDC NDC appeals for calm after weeks of media...bullet
8 Ministerial Nominee I am a card bearing member of NPP -...bullet
9 Profile All you need to know about Samira Bawumiabullet
10 Confusion in NDC Greedy friends of Mahama caused NDC's...bullet

Top Videos

1 Video What Ghanaians are saying about Agyarko's bribery allegation casebullet
2 New Government Swearing in of Nana Akufo-Addo and Dr Bawumiabullet
3 Election 2016 Obinim predicts victory for Nana Addobullet
4 Election 2016 Obinim threatens to rig elections for Mahama, Nana Addobullet
5 Election 2016 President Mahama Commissions the Kwame Nkrumah...bullet
6 Watch Gbese Mantse vows to abdicate if Nana Addo winsbullet
7 Election 2016 NPP does not want Nana Addo scrutinised –...bullet

Politics