The governing New Patriotic Party (NPP) says the economy it inherited from the Mahama government is not “encouraging”.
According to Senior Minister-designate, Yaw Osafo Maafo the economic figures the NPP took over is bad and seriously bleeding.
He opined that Ghana's budget deficit is hovering at a worrying rate of 8% higher than the 5% expected under the IMF agreement.
Mr Osafo Maafo also said, the debt to GDP is 72% a figure which can only be suffocating.
Speaking to Joy News after his announcement as Senior Minister, the former Finance Minister in the erstwhile Kufuor administration said even though Ghana is not a HIPC country, it is heavily indebted.
"We are extremely, heavily indebted but not poor," he said, adding, "the economy is fundamentally very strong. It is the management that has been a problem."
"The economy is bleeding seriously," he said but assured the Nana Akufo-Addo administration will put in place the necessary policies to address them.