Mahamudu Bawumia labels Ghana's current state a "paper economy"

Dr. Mahamudu Bawumia, the New Patriotic Party (NPP) presidential candidate, has challenged the NDC government’s economic narrative, describing a sharp disconnect between official statistics and the lived reality of Ghanaians. Speaking at the party’s National Thanksgiving Service in Sunyani, Bawumia introduced the concept of a ’tale of two economies’: a ‘paper economy’ cited by the government to show stability and a ‘pocket economy’ where citizens continue to struggle with high costs of living.

During his address, Bawumia argued that any claims of inflation reduction or currency stabilization are meaningless if they do not result in tangible relief for ordinary people. He stated that ‘stability by itself is meaningless unless it is linked to the total liberation of the pockets of Ghanaians.’ The NPP candidate accused the administration under President John Mahama of using theoretical figures to mask a dire economic situation, noting that prices in markets and shops do not reflect the improvements reported by state institutions.

Bawumia further expanded his critique to specific sectors, alleging that the government has failed to protect critical programs like Free Senior High School (Free SHS) and has underperformed in addressing illegal mining, popularly known as galamsey. Using the internet meme phrase ‘Omo akyi gu ho!’ to mock the governing NDC, he suggested that the digital age makes it impossible for politicians to hide from their past rhetoric. He questioned whether sectors such as agriculture and healthcare had seen any actual benefit from the stability the government claims to have achieved.

Looking ahead, Bawumia pledged that a future NPP administration would focus on viable, practical solutions aimed at bridging the gap between macroeconomic data and the ‘pocket economy.’ He emphasized that the electorate would hold the government accountable for the disconnect between its rhetoric and their daily financial hardships. The service in Sunyani served as a platform for the NPP to consolidate its message of economic restoration as the campaign for the upcoming elections intensifies.