The Member of Parliament for Nhyiaeso, Dr. Stephen Amoah, has argued that Ghana’s recent economic improvements are not the result of the current administration’s work, but rather the delayed impact of policies implemented by the previous government.
Speaking on Joy FM on January 27, Dr. Stephen Amoah strongly criticized the attribution of Ghana’s economic gains to the sitting government, insisting that the country is enjoying the fruits of past labor.
“The bone of contention here is quite clear,” Dr. Amoah told Parliament. “We are talking about the performance of our Republic of Ghana last year, and whether the impact from the economic indicators can be attributed to the present government or not. I am making it so clear — these gains are the result of past policies.”
He cited key figures to back his claim. “Inflation went to about 54.1% at one point, but by the last quarter of 2024 it had come down to 22.9%. Our GDP was growing at 5.6%, far higher than the 3.4% recorded in 2016. In fact, provisional figures before they came to the House were over 7%,” he explained.
According to Dr. Amoah, these improvements reflect the delayed effects of reforms initiated by the previous administration. “If you look at all these indicators, then you can talk about the fact that the impact of these economic indicators is because we are experiencing the delayed effects of previous government performance in terms of economic restoration. This government is yet to impact any serious international economic policy.”
He stressed that structural and administrative hurdles have limited the current administration’s ability to spend. “Any fair to a new government is very difficult because of parliamentary approval,” he said. “Most of your programs require parliamentary approval and other structural complications. So the government, not by recklessness, has not been spending.”
Dr. Amoah also pointed to IMF conditionalities as a major constraint. “I don’t think we have come out of the IMF restrictions,” he noted. “This puts some sort of restrictions on our discretionary spending. It’s not that the government is deliberately refusing to spend — they simply don’t have the fiscal space.”
On investor confidence, he acknowledged external factors. “Between December and January, we received about $1 billion into our account as a result of confidence restored after a successful national election,” he revealed. “America’s trade war with the Asian market also had an impact on the dollar, and the availability of enough dollars in Ghana means the supply side has enough to bring that impact.”
Despite these inflows, Dr. Amoah insisted the government cannot claim credit. “This government has virtually not done anything remarkable for us to achieve this,” he declared. “Honestly speaking, we need to give them some help, but almost all their major scholarship programs have not been impactful. Can they quantify the amount of their contributions to the performance of our education? No.”
He concluded by warning against misplaced praise. “When it comes to the economy, we are enjoying the fruits of our labor,” Dr. Amoah said. “This government is yet to demonstrate any serious impact on international economic policy.”
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Source: www.myjoyonline.com
