Mahama's Government Is Working Hard To Restore Macro And Micro Economic Stability

"The NDC Grassroots should be patient with Government, No one would be left out"

The John Mahama (JM) NDC Government inherited a bad Economy from its predecessors, the NPP Government. For which reason, Macro and Micro Economic Stability are key proponents to restore Economic Freedom and Prosperity for all Ghanaians.

In doing so, the Government seeks to mitigate the adverse effects Nana Akuffo Addo and Alhaji Dr Bawumia Government had on the Ghanaian Economy beginning with Macro Economic Reforms that will restore confidence in the Ghanaian Economy and that will open up the Economy to the Capital Market and foreign direct investment once again.

The past government subjected Ghanaians to Economic hardships, Institutionalized Corruption and Social Repression which stiffled political, social and economic development of Ghana. In it, a government that inherited a National Debt stock of GHC 120 billion in 2016, Left behind a debt stock of GHC 769 billion in 2024. In it, inflation shot to about 54% till it dropped to about 24% after it inherited a drop of around 16% in 2016. High fuel prices and high cost of living were the hallmarks of the Nana Akuffo Addo and Alhaji Dr Bawumia bad governance.

Interest and lending rates were high, and according to economic indicators about 24% of Ghanaians lived a day without food. Citizens were subjected to abject poverty as results of economic mismanagement. The Dollar to cedi rates were disgusting leading to higher inflation and escalating prices of goods and services. At point GHC 17 to a dollar whiles the Domestic Debt Exchange Program fizzled out the Economic growth

Inspite of the above-mentioned challenges, the resilience approach of the JM Government to fix the Economy Macro Economic Reforms was drastic and non negotiable in order to reset Ghana and restore confidence in the Ghanaian Economy that would attract foreign direct investment and open Ghana to the Capital Market.

In the shortest possible time, the Chief end of the Macro Economic Reforms program dropped the cedi to GHC 10 per dollar, lending, interest and policy rates have dropped significantly, inflation is at its lowest ever, about 3.8% which has reflected significantly on the prices of goods and services on the Ghanaian market. The national debt stock has been reduced to about GHC 644 billion from GHC 769 billion it inherited. Fuel prices have dropped significantly if not for the Israel -American war against Iran

Whiles ensuring fiscal discipline, the JM Government has cut down frivolous and profligate expenditure by the Executive cutting down the size of government significantly.. So the successes chalked by the JM NDC Government needs to be appreciated by Ghanaians because that would be the driving force to restore Micro Economic Stability that would have direct impact of the sustainable livelihood development of the ordinary Ghanaian.

The impact of the Macro Economic Stability is geared towards ensuring that the ordinary citizen is liberated from Economic hardships so the drop in inflation, cedi to dollar rate, policy and interest rates, fuel hikes etc are clear indicators to build the local economy through Micro Economic polices yet to be rolled out soon.

The 24 hrs Economy Bill which was recently passed by Parliament is a significant step. To roll it up, it would create the opportunity for government to address unemployment challenges, industrialization, mitigate social Repression, agricultural development and mechanisation, boosting the manufacturing sector, and building a resilient Small Scale and Medium Enterprises to the benefit of the ordinary Ghanaian through government flagship programs such as National Apprenticeship program as well as Public Private Partnership Policies that would create jobs for the teaming youth in the local economy.

So to wit, the NDC Grassroots should be patient with the government as it embarks on Macro Economic Reforms that would impact on the micro economy which will reflect job opportunities which they're seeking for. The JM Government has not abandoned and forsaken them as being speculated. No One would be left out in this success story. The government will attend and address the concerns of the Grassroots soon in the shortest possible time after restoring Macro and Micro Economic Stability.

The job opportunities they need would come, like wise Business opportunities. The JM Government appreciates their sacrifices and support that led to the victory in the 2024 general elections. For which reason, government is aware that they must have a fair share of the cake.

The JM Government has embarked on sacrifice and service to the Ghanaian people since it took over power. As it is, many government appointees and public servants are on National Service. Many have not received salaries and emoluments since and yet they continue to sacrifice to work hard to write the success story of the JM Government which is well aware of the concerns and grievances of Grassroots.

The Grassroots should not forget that the alternative NPP is deadly so they should continue to support the government until their aspirations are met by the government which Will inevitably happened before the next general elections.

It is not an easy road and who fixes it knows. JM Government will fix Ghanaians and the Grassroots soon. The recent pronouncement by the the President to increase the numbers of recruitment into the security services should guide us to know that more is coming and better times ahead.

Aluta Continua Victorie Acerta ✍️
DR. MICHAEL RICHMOND SMART-ABBEY GOVERNANCE AND SECURITY EXPERT, WRITER AND AUTHOR.