Minister of State for Government Communications, Felix Kwakye Ofosu, has blamed the country’s recent economic difficulties on what he describes as fiscal mismanagement under the former New Patriotic Party (NPP) government, led by President Nana Akufo-Addo.
Speaking at the Africa-Singapore Business Forum on Monday, Mr Kwakye Ofosu said excessive government spending during the previous administration significantly contributed to Ghana’s financial challenges.
“One of the problems that precipitated the economic decline in the very recent past under the NPP was fiscal indiscipline – the tendency to live outside of our means and spend more than we earn,” he told reporters.
He contrasted the former administration with the current government led by President John Mahama, saying it has adopted a more responsible approach to public spending.
“We are not spending beyond our means, we are not spending lavishly. We are spending on critical sectors,” he said.
As an example, he pointed to the smaller government delegation attending the Singapore forum, which he said reflected a more cost-conscious approach.
“Look at the delegation that came here – they are just three or four ministers of state. But if I show you the delegations that followed President Akufo-Addo around when he travelled, you’d be amazed. All of this adds up to the cost of running government,” he added.
Ghana has faced rising inflation, a weakened currency, and mounting debt in recent years. The government is currently working to stabilise the economy and restore investor confidence.
