Dr Mahamudu Bawumia calls Ghana's economy a paper economy

Dr Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), has criticized the economic management of President John Mahama’s administration, characterizing the current financial situation as a "paper economy." Speaking at a National Thanksgiving Service in Sunyani, Dr Bawumia argued that the government’s reported statistical gains have failed to provide tangible relief for Ghanaian households. He emphasized that macroeconomic stability is insufficient if it does not address the rising costs of basic needs for the average citizen.

The NPP leader highlighted a stark disconnect between positive economic data, such as inflation and exchange rates, and the daily struggles of Ghanaians facing high fuel and utility costs. Dr Bawumia asserted that the government’s claims of success exist only in documents and official reports, rather than in the actual living standards of the people. He urged the administration to ensure that economic improvements translate into lower costs for essential goods and services.

Dr Ezekiel Obeng Agyekum, a member of the NPP’s national communications team, supported these claims by citing specific examples of increased living costs. He noted that university accommodation fees have risen sharply, contrasting with lower costs experienced under previous leadership. This evidence, according to the NPP, reinforces the narrative that the current administration's economic policies have not yet benefited the broader population in a meaningful way.

Beyond economic figures, Dr Bawumia called for greater transparency and accountability from the government regarding national projects and its efforts to combat illegal mining. He encouraged Members of Parliament to maintain closer ties with their constituents to ensure their grievances are heard and addressed. The address, delivered following the NPP's National Delegates Conference, underscores the party's focus on the gap between government statistics and the financial reality facing Ghanaian families.