Haruna Iddrisu, the Education Minister, has quizzed the opposition New Patriotic Party (NPP) on why they are dead silent about Ghana’s economy.
According to Haruna Iddrisu, the NPP’s silent on the econnomy at its recent delegates conference amounted to an acknowledgement that President John Dramani Mahama’s administration was performing better.
The Education Minister questioned why the NPP are not talking about inflation, debt, debt-to-GDP rate and the number of investment in infrastructure.
Speaking on Joy FM on Tuesday, October 13, the Tamale South MP stated, “Why were they not talking about inflation? Why were they not talking about debt? Why were they not talking about the debt-to-GDP rate? Why were they not talking about investment in infrastructure? They were dead silent on the economy”.
“They are talking about a policy intervention, which is the vision of the President to transform the economy from an import-dependent to a food-producing, self-dependent economy. But I’m talking about the real economy,” he said.
Haruna Iddrisu acknowledged that the NPP government had initiated a gold purchase programme through the Bank of Ghana.
He, however, said losses had occurred under that initiative, while admitting that similar concerns had arisen under the NDC.
Haruna Iddrisu nevertheless maintained that the gold interventions should also be assessed against their contribution to reserves and currency stability.
“Have we shored up our gold reserve? Yes, we have. Is the currency doing better? Yes, it is,” he said.
“And for many businesses, they will tell you that this has helped them practically to be able to plan,” he said.
However, Haruna Iddrisu called for stronger accountability at GoldBod and expressed support for proposals to improve its performance to prevent losses.
In related news, President John Dramani Mahama has said Ghana’s economy is resilient and capable of withstanding external shocks.
According to John Mahama, Ghana’s economy used to stand on broomsticks; but today it is standing on concrete pillars.
Mahama noted that in the past Ghana’s economy was vulnerable to developments in the global economic environment, but argued that today the economy is stabilised despite international challenges.
Speaking during his accountability engagement in Wa at the weekend as part of his #ResettingGhana Tour of the Upper West Region, Mahama stated, “In the past, Ghana’s economy used to stand on broomsticks. As soon as something happens in the world, it comes crashing down. Today Ghana’s economy is standing on concrete pillars, so even when there’s an earthquake, the country is still standing.
“This Iran-Israel-US war, if it had happened some years back, by now the economy would have come crashing down, but happily it’s been well managed,” the President explained.
Mahama, however, noted that while the economy remained stable, external developments had slowed the pace of progress expected by the Government.
According to John Mahama, his government planned to invest GH¢2.5 billion annually in five key sectors of the economy under its proposed “new economy” initiative aimed at creating jobs and opportunities for young people.
President Mahama disclosed that the Minister of Finance would unveil the initiative in the 2027 Budget Statement, with investments targeted at sectors including pharmaceuticals, agriculture and agro-processing, tourism, and power generation.
“These are not going to be government businesses. Government is not going to set up state-owned enterprises with GH₵2.5 billion a year. It is going to go to the private sector to set up the businesses,” President Mahama indicated.
Mahama further urged entrepreneurs and private sector operators to take advantage of the opportunities to expand businesses and create employment for the youth.
@ghnow_ Actress and media personality Nana Ama McBrown arrives to mourn with Kumawood actress Vivian Jill Lawrence and her family at the vigil night of her late elder sister, Auntie Mabel. 🕊️ #GHNow #NanaAmaMcBrown #VivianJill ♬ original sound – John 3:16 🇬🇭
@ghnow_ Actress and media personality Nana Ama McBrown arrives to mourn with Kumawood actress Vivian Jill Lawrence and her family at the vigil night of her late elder sister, Auntie Mabel. 🕊️ #GHNow #NanaAmaMcBrown #VivianJill #fyp ♬ original sound – Wasako Lyrics
