Mahama Accused of Economic Propaganda by NPP Minority Caucus
The NPP Minority caucus, represented by Dr. Mohammed Amin Adam, condemned President Mahama’s State of the Nation Address for propagating misleading information regarding Ghana’s economy. They highlighted significant economic improvements, such as a decline in inflation and growth in GDP, which contrasted the narrative presented by the President.
The New Patriotic Party (NPP) Minority caucus has criticized President John Dramani Mahama for using his inaugural State of the Nation Address (SONA) to present propaganda regarding Ghana’s economy. During a press conference on March 3, 2025, Dr. Mohammed Amin Adam, a former Minister of Finance, asserted that the address should have provided an accurate depiction of the economic challenges faced in 2022 and acknowledged the concerted efforts of the NPP government, backed by the IMF, to resolve these issues. He expressed disappointment that the President did not call for bipartisan support to strengthen the nation’s recovery efforts, instead opting for political propaganda that may ultimately backfire on him.
Dr. Adam countered President Mahama’s criticism of the NPP government for concluding 2023 with a headline inflation rate of 23.8%, which exceeded the IMF target of 18%. He argued that this claim failed to consider the context of rising inflation stemming from global crises such as COVID-19 and the Russia-Ukraine war, which saw inflation peak at 54% in 2022. He emphasized that a decline to 23%, while still above target, indicated a positive trend of disinflation, contrary to the President’s portrayal.
The former Finance Minister further pointed out that slight deviations from inflation targets are common in uncertain economic climates, stating that such variances are manageable and understandable. He recalled that during President Mahama’s previous administration, there were also significant deviations from inflation targets, asserting that the current minor deviations should not be labeled as failures. He expressed confidence that the government would effectively address these discrepancies through consultations with the IMF as part of their ongoing program.
Moreover, Dr. Adam highlighted the importance of other economic indicators beyond inflation, including real GDP growth, trade balance, and current account surpluses. He noted that Ghana’s average GDP growth for the first three quarters of 2024 reached 6.4%, surpassing the IMF’s target of 4%, while previous records under Mahama showed lower performance. He also discussed improvements in trade balances and current account surpluses, suggesting that these developments starkly contrasted the deficits experienced under the prior administration.
In addition, Dr. Adam praised the country’s current international reserves, indicating they have reached a historic level of $8.9 billion, which ensures resilience against global economic shocks. He argued that this reflects an overall strengthened economic position, contrasting the previous administration’s record, where reserves were significantly lower. Dr. Adam concluded that the true state of Ghana’s economy reflects considerable growth and resilience, which he believes the President’s narrative fails to recognize.
In summary, the NPP Minority caucus has voiced strong criticisms of President Mahama’s portrayal of the Ghanaian economy during his State of the Nation Address. They argue that his claims misrepresent the positive trends in economic growth, inflation control, and international reserves achieved under the NPP government. Rather than invoking a political agenda, the Minority calls for acknowledging the nation’s recovery and collaborating for continued economic stability.
Original Source: www.gbcghanaonline.com
