Ghana’s opposition party, the New Patriotic Party (NPP), has accused President John Dramani Mahama of misrepresenting the state of the country’s economy during his maiden State of the Nation Address (SONA). According to the NPP Minority caucus in Parliament, President Mahama’s speech was nothing but propaganda.
Dr. Mohammed Amin Adam, a former Minister of Finance, addressed journalists on behalf of the Minority, stating that President Mahama’s accusation of the NPP government’s poor monetary policy was unfounded. He argued that the country’s inflation rate, which rose to 54% in 2022 due to the COVID-19 pandemic and the Russia-Ukraine war, had dropped to 23% by the end of 2023, indicating a significant positive performance.
Dr. Amin Adam also highlighted the country’s impressive economic growth, with a real GDP growth rate of 6.4% in the first three quarters of 2024, exceeding the IMF’s target of 4%. Additionally, he noted that the trade balance had maintained a surplus trend since 2017, with a surplus of 5.9% of GDP in 2024, and the current account balance had ended 2024 with a surplus of 4.2% of GDP.
The NPP Minority caucus emphasized that these achievements demonstrate the country’s strong economic resilience, contrary to President Mahama’s claims. They accused the President of failing to acknowledge the challenges faced by the previous government and the remarkable turnaround achieved through decisive policies and IMF support.
Ruth Abla ADJORLOLO
