No, that's an opinion
Economics being the fuzzy trick-cycling that it is, you can find lots of eminent economists utterly convinced that the ConDem policies have shortened and shallowed the recession, as well as a few saying that they lengthened and deepened it.
However, the general consensus is that a Labour coalition would have bankrupted us instead, causing a full-scale depression and hyper-inflation.
Though it can't be proven, partly because economists are trick-cyclists, but mostly because Labour have had no plans at all other than "Not what the ConDems say" throughout most of their opposition.
Heck, I still have no idea what Balls and Miliband actually stand for or believe, unless it really is just the "Not Tory" stance they've been following.