Dr Mahamudu Bawumia, the running mate of the opposition New Patriotic Party (NPP), ruffled feathers on Thursday when he delivered a lecture on "The state of the Ghanaian economy: A foundation of concrete or straw".
The event was attended by several NPP bigwigs, including former President John Agyekum Kufour and NPP flagbearer, Nana Akufo-Addo.
Dr Bawumia painted a bleak picture of the economy in his speech at the National Theatre on Accra.
The former Bank of Ghana governor said the economy had been mismanaged under the leadership of John Mahama.
Dr Bawumia said Ghana’s debt to GDP ratio has increased from 32% in 2008 to 72% as at the end of 2015 while the cedi has depreciated from GH¢1.2 to the dollar in 2009 to GH¢ 3.95.
He said the government had borrowed $39 billion dollars in the last eight years with nothing to show for it.
Dr Bawumia said Ghana’s minimum wage, in dollar terms, had declined from $2.12 in 2008 to $2.02 in 2016 under President Mahama's leadership.
According to him, the NPP increased per capita income by $826 during its term, but the NDC, with twelve times more resources, has increased per capita income by only $215.
Dr Bawumia added that late the President Atta Mills' handling of the economy was far better than Mahama's.