Deputy Finance Minister and Member of Parliament for Asuogyaman, Thomas Ampem Nyarko, has emphatically declared that the long-standing national debate over which political tradition manages Ghana’s economy better has finally been resolved.
Speaking on the floor of Parliament during the debate on the 2026 Budget, he argued that the achievements chalked by the current administration under President John Dramani Mahama provide indisputable evidence that the National Democratic Congress (NDC) is unmatched in economic stewardship.
Hon. Ampem Nyarko stated that after three days of vigorous contributions from Members of Parliament on both sides, the facts presented by the Majority leave no doubt about the NDC’s superior performance.
“About 82% of respondents have given approval to this budget. You may choose to believe it or not, that is up to you. Whether you decide to take public opinion or just depend on your own ideas, that is up to you.”
Deputy Finance Minister and Member of Parliament for Asuogyaman, Thomas Ampem Nyarko
According to the Deputy Finance Minister, the latest national budget, presented by Finance Minister Dr Cassiel Ato Forson, has been embraced by Ghanaians because it is grounded in stability, growth-focused reforms, and targeted investments.
He stressed that despite attempts by the Minority to discredit the budget, the data was clear and the achievements were undeniable. “One thing is clear today,” he declared. “The debate as to who are better manager of the economy of Ghana has been settled. If you know, you know.”
He emphasised that the economic indicators inherited by President Mahama on his return to office were troubling, yet the government has worked tirelessly within ten months to reverse the decline.
Record Time Economic Rebound
He cited inflation as a prime example. “Inflation that we inherited at 23.8% today has reduced significantly to 8%, and nobody has disputed that throughout the debate,” he asserted.
The Deputy Finance Minister further argued that Ghana’s public debt trajectory under the new administration demonstrates competence and fiscal discipline. “Public debt, as we inherited, GHS 726 billion in December, has reduced significantly to GHS 630 billion,” he stated, emphasising that these improvements reflect deliberate and responsible management rather than chance.
He contrasted the NDC’s fiscal record with that of the previous administration, highlighting what he described as remarkable progress in the primary balance. “Primary balance has moved from a deficit of 3.5% to a surplus of 1.6%, something they could never imagine was possible under them,” he said.
Hon. Ampem Nyarko maintained that these outcomes are the result of strategic policies designed to stabilise public finances while stimulating growth.
He also pointed to the dramatic improvement in Ghana’s reserves as further proof of competent management, drawing sharp comparisons between the NDC and the previous government.
“In 2016, when we were handing over to the NPP, our reserves were $6.2 billion. Eight years after, in 2024, when they were handing over back to us, they had increased their reserves to $9 billion. They added $2.8 billion. For 10 months, from January this year to date, we have increased the reserves to $11.4 billion.
“It took you eight good years to increase our reserves by $2.8 billion. It has taken President Mahama and his Finance Minister, Dr Ato Forson, and the Governor of the Bank of Ghana, Dr Asiama, only 10 months to increase our reserves by $2.4 billion.”
Deputy Finance Minister and Member of Parliament for Asuogyaman, Thomas Ampem Nyarko
Hon. Ampem Nyarko questioned whether critics could genuinely compare the economic performance of the previous administration to the strides made by the current government, responding emphatically, “Would you compare yourselves to us? No way.”
He then dismissed claims made by the immediate past Finance Minister, who had branded the 2026 Budget as “jobless.” Hon. Ampem Nyarko dismissed the assertion as unfounded, insisting that the allocations made in the budget are directly targeted at stimulating employment and economic expansion.
“A budget that allocates $500 million to oil palm plantations—would you call that a jobless budget? No,” he argued. He highlighted further investments, including the $30 billion Big Push for infrastructure, $828 million for constructing 1,000 kilometres of agricultural roads, and $100 million for aquaculture development. “Would you call that a jobless budget? No,” he repeated.
He concluded by emphasizing the value of the proposed restructuring of the Value Added Tax system, which he said would return capital to businesses, helping them expand, increase profits, and employ more Ghanaians. “A budget that seeks to restructure VAT, to give back money to businesses… Is that a jobless budget? No.”
Hon. Ampem Nyarko underscored that the government’s achievements were not abstract statistics but real progress that Ghanaians could feel. The evidence, he insisted, points to one conclusion: the NDC remains the best manager of the Ghanaian economy.
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