The Member of Parliament for Bia East, Hon. Richard Acheampong, has presented data on Ghana’s current inflation and key economic indicators, contrasting them with figures recorded under the previous administration.
Speaking on the floor of Parliament, Hon. Acheampong disclosed that Ghana’s annual inflation for 2024 stood at 23.8%, but by the end of October it had dropped to 8%. He argued that this marked a significant improvement in economic management.
He further stated that the fiscal balance as a percentage of GDP on a commitment basis was –7.9% when the NPP left office, whereas the NDC government is now reporting 1.5%. He added that the primary balance, which stood at –3% under the NPP, has improved to 1.6% under the NDC.
According to him, although Hon. Kojo Oppong Nkrumah appears uncomfortable with the reported figures, “the books do not lie.” He referenced additional fiscal indicators, noting that the primary balance on a cash basis moved from –1.2% under the NPP to 0.7% under the NDC.
Hon. Acheampong also highlighted improvements in public debt, stating that the debt-to-GDP ratio was 61.8% under the NPP but has reduced to 44% under the NDC.
He further indicated that the current account balance as a percentage of GDP improved from 2% to 4.3%, while the trade balance increased from 3.8% to 7.4%. He added that the roads reserve increased from 9 billion to 11.4 billion, and international reserves rose from 4.0 billion to 4.8 billion.
The Bia East MP argued that the NPP left the economy “in a mess,” and urged members to support the Finance Minister, whom he credited with “fixing the mess.” He criticized the lack of cooperation from the opposition, stating that instead of uniting behind measures to stabilize the economy, some members appeared “confused and uncomfortable with the figures.”
Source:Mybrytfmonline.com/Emmanuel Anyigba
