A Presidential Aide, Dr. Sammy Ayeh, has lauded the Mahama administration for what he describes as a remarkable economic turnaround, revealing that several state institutions are now recording profits just ten months into the NDC administration.
Speaking on Nhyira FM’s Kuro Yi Mu Nsem with Nana Jantuah in Kumasi, Dr Ayeh said the swift recovery reflects a well-coordinated economic strategy spearheaded by President Mahama and Finance Minister, Dr. Cassiel Ato Forson, one that has restored confidence in the economy.
“Government institutions are making profits in just 10 months. Most banks that recorded losses in 2024 are now reporting profits under Mahama, a notable example is the National Investment Bank. The Tema Oil Refinery, which was previously projected to be sold for $22 million, is now making a profit of $21 million,” he indicated.
He disputed claims by the opposition NPP that the economy is stable because the government is not spending.
According to him, the Mahama administration has paid off major national debts, cleared arrears owed to the power sector, released District Assembly Common Fund (DACF) allocations, and fully restored the National Health Insurance Authority (NHIA) to operation.
“The debts of the NHIA have been cleared, and the scheme has been fully restored. The DACF, National debts, and power sector issues, among others, have been financially addressed. This is a government that has proven more transparent in managing the economy than any before it,” he noted.
On economic performance, Dr Ayeh highlighted improvements in inflation, interest rates, currency stability, and debt-to-GDP ratio, adding that recent oversubscription of Treasury bills and an increase in Ghana’s import cover from two weeks under the previous government to four weeks show growing investor confidence.
He attributed the turnaround largely to the GoldBod initiative, describing it as the real driver of economic stability, not foreign dollar injections.
“Today, the interest rate is good, inflation and the cedi to dollar rate are all good. This stability was achieved through the revenue raised in the economy by GoldBod. GoldBod and good economic policies have brought the country out of the mess the NPP left the country in,” he indicated.
He concluded by assuring the people of Asanteman that the Krofrom Market will be completed and store allocations will begin by December 2025.
“Every objective analysis has demonstrated the greatest love for Asanteman. The 2026 Budget is well-structured and comprehensively captures the development needs of Asanteman. The allocation of stores at Krofrom Market will begin in December this year,” he stated.