Bawumia was right; NDC's economy is only on paper, not in people's pockets – Kwadwo Poku

A member of the New Patriotic Party (NPP) National Communications Team, Kwadwo Poku, has backed former Vice-President Dr Mahamudu Bawumia's criticism of the government's economic performance.

Dr Bawumia made the argument on Sunday, October 18, at the NPP's National Thanksgiving Service in Sunyani, where he questioned the benefits of economic stability if Ghanaians continued to struggle with the cost of living.

The former Vice-President described the paper economy as the favourable statistics on inflation and the exchange rate, while the pocket economy represents the financial realities confronting households.

Supporting the comment, Kwadwo Poku argued that improvements in economic indicators have not translated into relief for ordinary Ghanaians.

He said the decline in inflation and improvements in the exchange rate have not made essential goods and services more affordable for many households.

“The economy on paper should have a meaningful effect on the populace. It's very simple. I don't know how anybody doesn't understand that,” he said on Accra-based Metro TV's Good Morning Ghana show on Friday, October 23.

Mr Poku argued that the government's economic performance should be assessed by how changes in key indicators affect the prices of food, transport fares, fuel and imported goods.

He cited the prices of locally produced food items, including onions and tomatoes, as examples of commodities he believes remain expensive despite the reported economic improvements.

He also questioned why traders at Abossey Okai, a major automobile spare-parts market in Accra, had not significantly reduced their prices despite claims of improvements in the exchange rate.