The Presidential Candidate of the National Democratic Congress (NDC), John Dramani Mahama, has criticized the current government under President Akufo-Addo and Vice President Dr. Mahamudu Bawumia for what he described as Ghana’s economic struggles. He claimed that the country’s economy has been ranked among the worst-performing globally, attributing this to the leadership of the Akufo-Addo administration.
In a Facebook post on November 20, 2024, Mahama called on Ghanaians to vote for him in the upcoming December elections to rebuild the economy, which he said has been severely mismanaged. “Akufo-Addo and Bawumia government has allowed our economy to be classified among the worst-performing in the world. Together, we must RESET Ghana. Vote for change on December 7th,” Mahama stated.
This statement comes amid conflicting views about the state of the economy. On the same day, President Akufo-Addo, during the commissioning of the Bank Square, the new headquarters of the Bank of Ghana in Accra, emphasized that Ghana’s economy is recovering. He cited recent data from the Bank of Ghana, which shows positive economic indicators, including a provisional GDP growth of 6.9% in the second quarter of 2024, with a non-oil growth of 7.0%.
The President further noted that inflation had significantly reduced from 54.1% in 2022 to 22.1% as of October 2024, which he said has brought relief to households and businesses. Additionally, Ghana has achieved a trade surplus of $2.78 billion and increased international reserves, which now stand at $7.5 billion, providing a strong buffer against external shocks.
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Akufo-Addo attributed these achievements to the effective monetary policies of the Bank of Ghana, led by Governor Ernest Addison, and praised the efforts of GoldKey Properties, a Ghanaian company responsible for the construction of the new Bank Square.
During his remarks at the ceremony, the President urged Ghanaians to remain united in efforts to build a stable, inclusive, and prosperous economy. “The Bank Square is not just a symbol of what we have accomplished; it is an inspiration for what lies ahead. Let us remain united in our efforts to make Ghana great and strong,” he stated.
As the election approaches, the debate over Ghana’s economic performance remains a key issue, with Mahama positioning himself as the candidate for change, while President Akufo-Addo highlights the government’s progress in stabilizing the economy.
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