The Minister for Government Communications, Felix Kwakye Ofosu, has dismissed the New Patriotic Party (NPP) flagbearer, Dr Mahamudu Bawumia’s, criticism of the government’s 24-hour economy policy as a “joke”, accusing him of engaging in what he described as “voodoo economics”.
His comments follow Dr Bawumia’s criticism of President John Dramani Mahama’s understanding and implementation of the policy.
Dr Bawumia has accused the government of using the 24-hour economy policy and other key campaign promises as propaganda. He argued that President Mahama does not understand the concept and is presiding over an economy he described as a “paper economy” and a “real pocket economy”.
However, speaking in an interview with Umaru Sanda Amadu on Citi FM’s Eyewitness News on Monday, October 19, Mr Kwakye Ofosu said Dr Bawumia’s arguments lacked a sound economic basis.
“The truth is that, Umaru, you should not have called me on this matter because you know that what Bawumia is saying is nothing more than a joke,” he said.
“There is no rational analysis that can reach the conclusion Bawumia is reaching. It is voodoo economics that Bawumia is doing.”
Mr Kwakye Ofosu accused Dr Bawumia of mismanaging the economy during his tenure as Vice President under the previous NPP administration, citing high inflation, rising public debt, currency depreciation and losses suffered by bondholders.
He argued that the economy had improved significantly under the current government compared with the conditions it inherited from the previous administration.
“The undeniable, unmistakable truth is that this economy, as we have it, is much, much, much better than he handed it over,” he said.
“The truth is that every single measure of economic performance today is better than he left it.”
The minister also challenged Dr Bawumia’s position on economic stability, arguing that it contradicted statements he had made while serving as Vice President.
According to Mr Kwakye Ofosu, Dr Bawumia had previously described exchange rate stability as a critical indicator of economic performance but was now downplaying its importance.
“Was he not the one who told us that the most important indicator in an economy like ours is the exchange rate? Was he not the one who told us this in 2014? So why does he find it convenient to stand in a church of all places and tell a lie that stability is not important?” he asked.
Mr Kwakye Ofosu further argued that prices of some essential commodities, including fuel, had declined compared with levels recorded under the previous administration.
He cited diesel prices in November 2022, which he said stood at about GH¢23 per litre, and compared them with current prices, which he claimed were lower.
He maintained that the economic indicators did not support Dr Bawumia’s criticism of the government’s performance.
The minister acknowledged that the economy could still improve but said the government remained committed to addressing the challenges facing the country.
“Of course, it can always get better. There is no dispute about that, and we will continue to work assiduously as a government to ensure that things get better than they are today,” he said.
