Majority hails economic recovery, backs 24-Hour economy policy

The Majority Caucus in Parliament has mounted a strong defence of the government’s economic performance, attributing the recent recovery to fiscal discipline, prudent policy decisions, and targeted reforms across critical sectors of the economy.

According to the Majority, by the close of 2024, essential public systems such as the National Health Insurance Scheme, the Free Senior High School programme, and decentralised governance structures were on the verge of collapse due to years of financial mismanagement and corruption. This situation, they noted, left many district assemblies struggling with severe funding shortfalls.

The Caucus said the current administration has since reversed this decline, earning recognition from international bodies including the International Monetary Fund, the World Bank, and global credit rating agencies. These institutions, they said, have acknowledged improvements in key indicators such as inflation, exchange rate stability, and foreign reserve levels.

Majority Leader Mahama Ayariga also pointed to the GoldBod initiative as a creative approach to harnessing Ghana’s mineral resources to support currency stability. He remarked that it was regrettable such innovative measures were not introduced under the economic management team led by former Vice President Dr. Mahamudu Bawumia.

Looking ahead, the Majority announced that Parliament is expected to pass legislation in early February to establish a 24-Hour Economy Authority. The policy, they said, will be central to accelerating industrial growth, expanding service delivery, creating sustainable employment opportunities, and complementing ongoing efforts to curb galamsey and restore the environment.