In a recent rebuttal, former Deputy Finance Minister Abena Osei Asare strongly refuted President John Dramani Mahama’s claims that the economy was “criminally mishandled” under the previous Akufo-Addo administration. This response comes amid heated political debates over Ghana’s economic performance and policy direction.
President Mahama’s Criticism of Economic Management
During the National Tripartite Committee meeting at the Ministry of Labour, Jobs, and Employment on February 20, President Mahama criticized the previous government’s economic management. He reiterated these concerns during his first State of the Nation Address (SONA) of his second term, expressing shock at the state of the economy.
The President’s comments were made in the context of announcing a 10% increase in base pay for public sector workers, a move aimed at addressing economic challenges faced by workers. However, his remarks sparked a strong response from Osei Asare, who defended the economic policies of the Akufo-Addo administration.
Osei Asare’s Defense of the Akufo-Addo Administration
Osei Asare acknowledged that Ghana faced economic challenges but rejected the notion of criminal mismanagement. She emphasized that the government implemented responsible measures to address these issues, leading to signs of economic recovery before the change in government.
“Ghana’s economy was not ‘criminally handled,’ as the President implies. Like many economies worldwide, we faced challenges, but we took responsible measures to address them. The signs of economic recovery were evident before the change in government,” she stated.
She highlighted key economic indicators to support her claims:
- Real GDP Growth: Averaged 6.3% in 2024 (Q1 – Q3), driven by a 10.4% growth in the industry sector.
- Primary Balance: Achieved a positive primary balance of 0.4% as of November 2024, compared to a negative balance of -1.4% of GDP in 2016.
- Revenue Collection: Exceeded its target by 3.3%, demonstrating effective financial management.
Acknowledging Challenges While Disputing Misleading Narratives
While Osei Asare admitted that Ghana is still facing economic difficulties, she insisted that President Mahama’s portrayal of the economy was misleading.
“While we acknowledge that we are not out of the woods yet, the narrative being pushed by the President is simply not accurate,” she added.
Her remarks underscore the ongoing political debate over the state of Ghana’s economy, with the opposition challenging the government’s assertions on economic performance and policy direction.