The Deputy Chief Executive Officer in charge of General Services at the Environmental Protection Authority (EPA), Professor Jacob Paarechuga Anankware, has accused New Patriotic Party (NPP) flagbearer Dr Mahamudu Bawumia of being inconsistent in his assessment of Ghana’s economy in power and in opposition.
The EPA Deputy CEO argued that the former Vice-President defended economic indicators while serving under the Akufo-Addo administration, but is now questioning the relevance of those same indicators under the Mahama government.
According to Prof Anankware, Dr Bawumia’s recent comments on Ghana’s economy contradict his own record as head of the Economic Management Team between 2017 and 2025.
Speaking on Metro TV’s Good Morning Ghana show on Monday, October 19, Prof. Anankware stated, “Bawumia is a prophet of the pocket economy only in opposition, but a priest of the paper economy when in power”.
He argued that Dr Bawumia previously relied on economic statistics to defend the government’s performance despite public concerns over the cost of living, the depreciation of the cedi and rising inflation.
Prof Anankware noted that when inflation reached 54.1 per cent in December 2022, the former Vice-President still defended the government’s economic record through official data.
“When he was Vice-President of this country and head of the Economic Management Team from 2017 to 2025, Ghanaians complained about the pocket economy, and he told them to look at the book economy”, he said.
His comment follows Dr Mahamudu Bawumia, who jabbed the NDC government, describing Ghana’s current economy as a tale of two economies.
According to Dr Bawumia, Ghana now has a paper economy and a pocket economy.
Dr Bawumia argued that despite the NDC government’s claim of lower inflation and a stronger cedi, life is still hard for Ghanaians.
Speaking at the NPP’s National Thanksgiving Service at the Church of Pentecost in Sunyani, Dr Bawumia stated, “As you can all attest, things are not going well. Things are really hard for the people. And when you ask them what they have done, they will tell you that inflation is down and the dollar is down. The reason we all want inflation and the dollar to go down is that we want it to have a positive impact and make life and the cost of living easier. But if inflation and the dollar go down and the people are suffering, is that how we want it?”.
“You cannot have a stable economy with people suffering. The stability should be a way of improving the lives of the people. So what is the use of the stability they are talking about when the people are suffering?”
Dr Bawumia added, “Have cocoa farmers benefited? They told them they will pay them 6000 cedis per bag. Has that happened? Have cashew farmers benefited? They told cashew farmers to look for land and expand their farms because they will pay them more, but that has not happened. Soybean, rice and maize farmers have all been deceived. Teachers, too, are the same. Same with nurses and doctors. Traders are also complaining because people are not buying their goods”.
“Galamsey is even worse. Maybe when they mentioned 1:3:3, they meant galamsey because galamsey has now more than tripled. Dr Sam Jonah said our river bodies now look like chocolate milk. They said they would end galamsey within one month, but they have failed”.
“They promised Ghanaians a new economy called a 24-hour economy. We have been waiting for nearly 2 years to see it, but it has not happened. Clearly they did not even understand what they were talking about. It was campaign propaganda to deceive Ghanaians. They said 1:3:3 – one job for three people, and the question Ghanaians are asking is, where are the jobs? They also promised to complete Agenda 111 hospitals, but they have failed”.
He added, “One is a paper economy – they say inflation is down and the exchange rate is down. The second economy is the pocket economy – the high cost of living and your sufferings. That is more important to the people of Ghana. The stability of the economy is meaningless if it cannot be linked to the liberation of the suffering of our people”.
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