Education Minister Haruna Iddrisu has questioned whether the New Patriotic Party’s limited discussion of key economic indicators at its recent delegates conference amounted to an acknowledgement that President John Dramani Mahama’s administration was performing better.
Speaking on Joy FM on Tuesday, October 13, the Tamale South MP argued that the opposition had not subjected inflation, debt and infrastructure investment to the comparisons it previously demanded.
“Why were they not talking about inflation? Why were they not talking about debt? Why were they not talking about the debt-to-GDP rate? Why were they not talking about investment in infrastructure? They were dead silent on the economy,” he said.
Mr Iddrisu suggested that the absence of those issues from the party’s discussions was politically significant, questioning whether it reflected an admission that the government was managing the economy more effectively.
The interviewer challenged his assessment, pointing out that the NPP had criticised the implementation of the government’s 24-hour economy policy.
Mr Iddrisu responded that his concern was specifically about the broader economic indicators against which governments should be assessed.
“They are talking about a policy intervention, which is the vision of the President to transform the economy from an import-dependent to a food-producing, self-dependent economy. But I’m talking about the real economy,” he said.
The interviewer also cited the opposition’s criticism of GoldBod and its argument that the government had poorly implemented the gold policy associated with the previous administration.
In response, Mr Iddrisu acknowledged that the NPP government had initiated a gold purchase programme through the Bank of Ghana. He said losses had occurred under that initiative, while acknowledging that similar concerns had arisen under the NDC.
He nevertheless maintained that the gold interventions should also be assessed against their contribution to reserves and currency stability.
“Have we shored up our gold reserve? Yes, we have. Is the currency doing better? Yes, it is,” he said.
According to Mr Iddrisu, improvements in the exchange rate had helped businesses plan, while a higher dollar exchange rate increased operating costs and affected profitability.
“And for many businesses, they will tell you that this has helped them practically to be able to plan,” he said.
He also called for stronger accountability at GoldBod and expressed support for proposals to improve its performance and prevent losses.