Data from the Bank of Ghana and the Ministry of Finance on a number of important indices support the departing Akufo-Addo administration's assertion that it is doing better economically than the administration it succeeded.
According to government sources, Ghana's macroeconomic performance under President Akufo-Addo has significantly improved as compared to the previous administration under John Mahama, even if the COVID-19 epidemic produced significant economic disruptions that presented difficulties for economies around the world.
They cite evidence that the departing government has performed better than its predecessor in ten of the thirteen major macroeconomic metrics, with GDP growth being the most noteworthy accomplishment.
When John Mahama left office in 2016 after losing an election, Ghana's GDP grew at a rate of 3.9%. Ghana's GDP growth rate, on the other hand, is currently 7.2%, demonstrating the economy's resilience under the Akufo-Addo administration, even in the face of the global economic consequences from COVID-19.
The growth of agriculture, industry, per capita income, budget deficit, primary balance, trade balance, current account-to-GDP ratio, gross international reserves, cumulative exchange rate depreciation, and per capita income are other areas where the Akufo-Addo administration maintains that it has made notable progress.
However, in three of the 13 metrics—the average 91-day Treasury bill rate, average inflation, and public debt—the Mahama administration has a stronger performance.
A comparison of the two administrations' performance on several important macroeconomic metrics can be found below:
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