Former Vice President and New Patriotic Party (NPP) presidential candidate Dr Mahamudu Bawumia has questioned the impact of the government’s economic stability claims, arguing that improved economic indicators must translate into better living conditions for ordinary Ghanaians.
Speaking at the NPP’s National Thanksgiving Service at the Church of Pentecost in Sunyani on Sunday, October 18, Dr Bawumia said lower inflation and relative stability in the exchange rate would mean little if households continued to struggle with the cost of living.
He argued that the ultimate purpose of economic stability should be to reduce financial pressure on citizens and improve their standard of living.
“The reason we all want inflation and dollar to go down is because we want it to have a positive impact and make life and cost of living easier and lower for the people,” he said.
“But if inflation and dollar go down and the people are suffering, is that how we want it? That’s not how we want it.”
Dr Bawumia maintained that economic stability should not be treated as an end in itself but as a means of improving the welfare of the population.
“You cannot have a stable economy with people suffering. The stability should be a way of improving the lives of the people,” he added.
Bawumia Points to Rising Living Costs
The former Vice President argued that conditions facing households and businesses did not reflect the economic progress being highlighted by the government.
He cited complaints from traders about low sales, alongside increases in electricity and water bills, fuel prices and transport fares, as evidence of the financial pressures facing many Ghanaians.
He also questioned whether cocoa farmers, cashew producers, grain farmers, teachers, nurses, doctors and traders were experiencing tangible benefits from the economic stability being touted by the government.
Dr Bawumia specifically raised questions about cocoa farmers and the government’s stated commitments to the agricultural sector, asking whether promises and calls for increased production had translated into meaningful improvements in livelihoods.
“Things are really hard for the people,” he said.
He insisted that the success of economic policies should ultimately be measured by their impact on people’s incomes, purchasing power and ability to meet everyday expenses.
NPP Candidate Criticises Government’s Economic Narrative
Dr Bawumia further criticised the government for what he described as a disconnect between its economic claims and the experiences of ordinary citizens.
“The stability of the economy is meaningless if it cannot be linked up to the liberation of the suffering of our people,” he said.
He added that economic improvements would have limited value if citizens continued to experience financial hardship despite claims of lower inflation and exchange-rate stability.
The NPP flagbearer also accused the government of misleading Ghanaians over unfulfilled promises, arguing that video clips circulating online were exposing commitments he said had not been honoured.
His remarks place the cost of living, household incomes and the practical benefits of economic recovery at the centre of the political debate over Ghana’s economic performance.
While the government has highlighted economic stability, Dr Bawumia argued that the decisive test should be whether those gains translate into improved living conditions for citizens.
