Ghana’s economy in a near state of collapse-Mahama

John Dramani Mahama, former President of the Republic of Ghana, has claimed that the National Democratic Congress has been a better manager of the economy than the ruling government.

This comment by the former President is in line with the controversial domestic debt exchange programme that has received rejection from stakeholders.

In a tweet, John Dramani Mahama said “Back from a trip to the Savanna, Northern and Upper West Regions – and poverty has worsened due to extreme inflation and price volatility. The economy is in a near state of collapse; clearly, the NDC has been a better manager of the economy!.”

According to the Ghana Statistical Services, The year-on-year inflation rate at factory gate prices for all goods and services fell big by 25.7% to 52.3% in December 2022.

Electricity and water tariffs have also been increased effective February 1.

The Public Utilities Regulatory Commission (PURC) made the announcement yesterday via a statement

“The PURC is equally mindful of the current difficult economic circumstances but notes that the potential for outages would be catastrophic for Ghana and has to be avoided. The PURC, therefore, sought to balance prevention of extended power outages and its deleterious implications on jobs and livelihoods with minimizing the impact of rate increases on consumers.”

“The Commission, therefore, decided to increase the average end-user tariff for electricity by 29.96% across the board for all consumer groups (Table i). The average end-user tariff for water has also been increased by 8.3% (Table 2). The Commission, however, approved varying rate adjustments including some reductions for selected industrial and commercial consumers as part of the ongoing restructuring of the existing water rate structure”, the PURC said in a statement.

Ghana | | Vivian Adu


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.