We must praises NDC for stabilising Ghana's economy – Stephen Amoah

Nhyiaeso Member of Parliament Dr Stephen Amoah has acknowledged the governing National Democratic Congress (NDC) for building on the economic recovery measures introduced by the previous New Patriotic Party (NPP) administration to stabilise Ghana’s economy.

Dr Amoah, who is also the Deputy Ranking Member of Parliament’s Finance Committee, said both administrations deserved recognition for their contributions to improving the country’s economic conditions.

Speaking on Eyewitness News on Wednesday, October 14, he pointed to falling inflation, lower Treasury bill rates and improvements in the debt-to-GDP ratio as evidence of progress, but stressed that the gains must translate into meaningful relief for ordinary Ghanaians.

He maintained that the NPP had introduced measures to restore the economy following the global economic crisis, while the NDC had continued those efforts to improve key macroeconomic indicators.

“We need to tell the NPP government that it did well restoring the economy, and we need to also appreciate the fact that the present government has also stabilised it. They have worked on what we did,” he said.

The Nhyiaeso MP argued that recognising the current administration’s contribution to economic stabilisation should not overshadow the work of its predecessor.

He said economic performance should be judged by measurable indicators rather than partisan considerations, adding that the priority now was to ensure that improvements in the macroeconomic environment produced tangible benefits for households and businesses.

“Now, I think what we are looking out for is the secondary macro, which is the impact, the practical impact, the manifestation, which we have not yet felt,” he added.

Dr Amoah said the next phase of economic management should focus on creating conditions that enable businesses to expand, employ more people and ease the financial burden on households.

He also called on the government to carefully consider the timing of tax measures, arguing that revenue mobilisation policies must reflect prevailing economic conditions and the pressures facing businesses and individuals.

While acknowledging that tax policies could be adjusted to meet the government’s revenue requirements, he cautioned that their implementation should not deepen hardship or undermine business growth.

According to him, the improving fiscal position should create room for businesses to retain liquidity, expand their operations and generate employment.

His comments come amid public discussions about the implementation of a 20% tax on qualifying cross-border digital services, with commercial banks expected to begin collecting the applicable taxes on such transactions from October 15, 2026.