Breaking News: JFK Speaks, Economic Gains Under Mahama, Says Ghanaians Not Feeling Relief
The opposition New Patriotic Party (NPP) general secretary, Justin Frimpong Kodua, has challenged claims that Ghana’s economy is improving under President John Dramani Mahama, arguing that macroeconomic data does not reflect the daily realities of ordinary citizens.
In a heated political exchange in a TV3 interview, he said the party questioned whether falling inflation and exchange rate stability have translated into meaningful relief for households and businesses.
“Statistics Must Reflect in Our Pockets”
According to the NPP general secretary, while government officials point to improved macroeconomic indicators—including inflation dropping to around 3.5% and relative stability of the cedi—the cost of living remains high.
“If inflation has reduced to 3.5%, why are prices in the market not reflecting it?” the party representative asked.
He cited visits to Abossey Okai, a major spare parts hub in Accra, where traders reportedly continue to face high costs for tires, engine oil, and car batteries compared to prices in early 2024.
The NPP argued that improvements in GDP growth and currency appreciation mean little if they do not translate into lower utility bills, affordable goods, and employment opportunities.
The Inflation Debate
Government defenders maintain that inflation has declined significantly compared to previous highs and that Ghana’s macroeconomic fundamentals are improving. International institutions such as the IMF have reportedly acknowledged Ghana’s recent economic stabilization efforts.
However, the NPP insists that inflation reduction does not automatically mean prices have fallen—only that they are rising at a slower pace.
“If these indicators are positive, Ghanaians must feel it in their daily lives,” the general secretary stressed.
Youth Employment and Social Promises
Mr. Kodua also highlighted concerns about youth unemployment and unmet campaign promises.
It questioned why nursing graduates are allegedly struggling to secure postings and why certain registration fees that were previously absorbed by the government are reportedly being charged again.
Additionally, the general secretary raised concerns about cocoa pricing, arguing that farmers are not receiving the improved producer prices they were promised.
Comparing Governments
Mr. Kodua further noted that when Dr. Mahamudu Bawumia was vice president, macroeconomic indicators such as inflation and exchange rate performance were frequently used to measure government performance.
However, the party now argues that relying solely on those same indicators without addressing broader economic realities presents an incomplete picture.
The general secretary emphasized that during the NPP’s tenure, social interventions such as free senior high school, infrastructure expansion, and Agenda 111 hospital projects were implemented alongside efforts to stabilize inflation.
“Data alone cannot be the only measure of performance,” he stated. “There must be visible, monumental interventions that improve lives.”
Data vs. Daily Life
According to the NPP, the real test of economic recovery lies in:
- Cost of utilities
- Market prices of goods
- Access to foreign exchange for businesses
- Employment levels
- Farmer incomes
“If businessmen struggle to access dollars and households still face high electricity bills, then the conversation cannot end with statistics,” Mr. Kodua argued.
Public Sentiment
The NPP claims growing frustration among sections of the population, arguing that many citizens feel shortchanged despite official data showing improvement.
The party maintains that economic recovery must go beyond macroeconomic stabilization and produce tangible relief for ordinary Ghanaians.
During the NPP’s time, the inflation was above 20%; the cost of a mini bottle of water was Ghc2.5, but now the inflation is 3.4%, the cost of the same mini bottle of water is Ghc3.
