The former National Chairman of the People's National Convention (PNC), Bernard Anbataayela Mornah, has criticised the government for claiming an economic recovery based on GDP growth while ignoring underlying issues that he believes indicate a sinking economy.

Speaking on the Class Morning Show with host Kwame Dwomoh-Agyemang, Mr. Mornah challenged the government's celebration of a 4.7 per cent GDP growth in the last quarter, arguing that this statistic does not reflect the true state of the economy.

“Your wealth is actually sinking, you own nothing, and I mean really nothing,” Mr. Mornah stated, criticising the government's inability to pay contractors despite the touted economic growth.

Mr. Mornah highlighted the disparity between GDP figures and the economic reality for many Ghanaians.

Using the telecom industry as an example, he explained that the profits generated by companies like MTN, GLO, and Telecel do not benefit the local economy.

“On average, out of the 20 million Ghanaians, everyone uses GHS10 for voice and data. Multiply GHS10 by the 20 million active subscribers, you get 200 million a day. Multiply that by 365 days and tell me how much money the telcos raise and tell me how much is your share,” he elaborated.

He continued that: “The telcos take that money and they are gone, so there will be an appreciation of the telcos sector which means more unemployment, more underdevelopment. NABCO workers are unable to get their incomes, nursing trainees will not be paid, contractors are owed and you’re reveling in that?”

Mr. Mornah urged the government to shift from using Gross Domestic Product (GDP) as a measure of economic health and instead adopt Gross National Product (GNP), which he believes provides a more accurate representation of the economy’s true state by accounting for the wealth actually owned by Ghanaians.

“We’re not serious. We should stop using GDP as an indicator of the health of our economy and move to Gross National Product which will determine the real ownership of the people of Ghana that will have effect and meaning to us. Let’s not calculate some people’s wealth and use that,” he urged.