The Member of Parliament (MP) for Manso Nkwanta, Tweneboah Fokuo, has rejected claims that the Akufo-Addo administration mismanaged Ghana’s economy before handing over power.
Speaking passionately about the economic data left behind, he challenged critics to present counter-figures if they believe otherwise.
“Akufo-Addo didn’t hand over a mismanaged economy. The facts and figures are there! So if you call this a mismanaged economy, then what figures are you working with?”
Tweneboah Fokuo, Member of Parliament for Manso Nkwanta
His remarks come amid ongoing debates about the state of Ghana’s economy, particularly as the new administration, led by President John Dramani Mahama, faces economic headwinds.
Fokuo argued that Ghana’s economy was in a much stronger position than it is being portrayed.
“You have an economy that suffered significantly during COVID, rebounded, and still managed to hand over real GDP growth of some 4%, which is really decent,” he stated.
He further highlighted key indicators such as Ghana’s balance of payment surplus, stock market performance, and public sector wage increases as proof that Akufo-Addo left behind a resilient economy.
“We handed over a very strong balance of payment of $3.1 billion. If you want to test an economy’s strength, look at the stock exchange because strong companies are listed there. The composite index grew by 56.2% year on year”
Tweneboah Fokuo, Member of Parliament for Manso Nkwanta
Addressing the issue of inflation, Fokuo attributed recent fluctuations to external factors, particularly unfavorable weather patterns affecting food production.
He dismissed claims that government mismanagement played a role in the “uptick”.
“It is important to understand why inflation is rising” he explained, adding “the recent increase is driven by the food basket, which has been impacted by weather conditions and delayed rains.”
Despite the pressures, he pointed out that the former government’s flagship Planting for Food and Jobs program had been effective, ensuring food security and supporting farmers.
On exchange rate stability, Fokuo reiterated that the balance of payment surplus left by the Akufo-Addo administration played a key role in stabilizing the cedi towards the end of the year.
“The key determinant of exchange rates is balance of payment. And that is how come around the third and fourth quarters of last year, you saw improvements. We left a balance of payment surplus of $3.1 billion, which should be something we pat ourselves on the back for”
Tweneboah Fokuo, Member of Parliament for Manso Nkwanta
Public Sector Wage Increases
Fokuo also praised former President Akufo-Addo for prioritizing the welfare of public sector workers, particularly with salary increments in his last two years in office.
He contrasted the 30% increase in 2023 and 25% increase in 2024 with the 10% increase announced by the Mahama administration for 2025.
“I take it that the leaders of various organized groups have gone through negotiations and signed the 10% increase, so that’s settled. But I’ll take this opportunity to commend the ex-president, Nana Addo Dankwa Akufo-Addo, for showing love to public sector workers”
Tweneboah Fokuo, Member of Parliament for Manso Nkwanta
He argued that these increases were only possible because of the strong economy left behind, despite claims of mismanagement.
NDC’s Counterclaims
Despite Fokuo’s defense of the NPP’s economic record, the NDC has painted a different picture, arguing that the Akufo-Addo government left behind high debt, revenue shortfalls, and a struggling cedi.
President John Mahama has stated that the new government inherited a fiscal crisis, pointing to what he describes as reckless borrowing and excessive government spending by the previous administration.
“We have taken over an economy where debt servicing consumes a huge portion of government revenue,” President Mahama said in a recent address. “This is not the stable economy they claim to have left behind”
The NDC has also criticized the reliance on an IMF bailout, arguing that it was evidence of mismanagement.
They claim that the former government’s decision to seek IMF assistance contradicts claims that the economy was strong.
Fokuo’s comments add to the ongoing debate about Ghana’s economic trajectory and whether the current government inherited a struggling economy or a resilient one.
While the opposition maintains that the Akufo-Addo administration left behind an economy in distress, Fokuo insists that the numbers tell a different story.
“If you call this a mismanaged economy, then what figures are we working with?” Fokuo reiterated.
