Accra: The Member of Parliament for Manso Nkwanta, Tweneboa Kodua Fokuo, has taken a swipe at President John Dramani Mahama's assessment of the economy, insisting that Ghana is far from taking off as suggested in the 2026 State of the Nation Address (SONA). Contributing to the debate on the President's 2026 SONA on the floor of Parliament on Tuesday, March 3, 2026, the Manso Nkwanta legislator challenged the analogy used by the President to describe the country's economic direction.
According to Ghana Web, the MP criticized the economic strategies employed by the current administration, arguing that they are more focused on short-term currency stabilization rather than pursuing long-term structural transformation. He highlighted the government's approach of converting gold into dollars to inject into the foreign exchange market as an example of what he termed "currency management," rather than a strategy for structural transformation.
The MP expressed concern that key real sectors of the economy, such as industry, manufacturing, and oil and gas, are weakening due to diverted policy attention. He emphasized that these sectors are being neglected in favor of efforts aimed at short-term stabilization and reserve stockpiling.
Fokuo further noted that investment levels and productivity remain low, warning that the country's Gross Domestic Product (GDP) growth momentum has slowed, contradicting the optimistic outlook presented by the President. He questioned the government's narrative of an imminent economic takeoff, citing weak investment and productivity as indicators of an economy not ready for significant growth.
The debate on the President's 2026 State of the Nation Address continues in Parliament, with members from both sides of the House offering contrasting views on the true state of the Ghanaian economy.