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I Cannot Turn Around Ghana’s Economy In Just 3 Months – Mahama Concedes



In a twist that will surprise absolutely no one, the Flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has gracefully backpedaled on an allegedly ambitious claim that he would stabilize Ghana’s economy and the local currency within a mere 100 days if re-elected in the 2024 general election.

Speaking at the 8th CEOs Summit held in Accra on Monday, May 27, 2024, the former President was unequivocal about his priorities: stabilizing the Cedi and the broader economy through what he termed as “urgent economic recovery and fiscal consolidation.” He promised this grand plan would commence with a national economic dialogue within 100 days of taking office.

“We will prune the huge government expenditures, prevent waste and corruption, and boost revenues by expanding the tax net. We will simplify VAT and streamline its collection. We will abolish the e-levy and some taxes that have become burdens on businesses and households. We will not burden you with endless tax audits and harass you with EOCO,” Mahama confidently declared. “By 2028, we aim to phase out cash as a form of payment for all government services. Our economy has long relied on a few key sectors, such as gold, cocoa, and, more recently, oil, which we call the Guggisberg economy,” he added.

However, after facing the wrath of public scrutiny, Mahama’s campaign team swiftly moved to clarify his statements, possibly realizing the herculean nature of such a promise. According to his Special Aide and Spokesperson, Joyce Bawah Mogtari, publications quoting Mahama as promising to stabilize the Cedi within 100 days are utterly false.

“Mr. Mahama, with his profound understanding of the economic challenges confronting the country today, did not promise to stabilize the Ghana Cedi within 100 days,” Mogtari clarified, attempting to salvage the situation. “Instead, he laid out a comprehensive plan to address the challenges, demonstrating his grasp of the situation.”

So, what did Mahama actually say? According to his team’s revised narrative, Mahama’s real message was: “Our number one priority will be stabilizing the economy and restoring a stable currency. We will launch an urgent economic recovery and fiscal consolidation plan following a national economic dialogue to be held within one hundred days of assumption of office.”

He further emphasized the need for fiscal discipline and responsible economic management, aiming for the stability of the currency through measures like reducing government expenditures, preventing waste and corruption, and boosting revenues by expanding the tax net. Simplifying VAT, abolishing the e-levy, and reducing burdensome taxes on businesses and households were also highlighted as key strategies.

In a valiant effort to restore credibility, the Mahama 2024 Campaign reiterated its commitment to transparent and responsible communication. “We urge the media to accurately represent the candidate’s statements in their reporting to ensure the public is well informed,” Mogtari concluded.

As the dust settles, one can’t help but marvel at the adeptness of Mahama’s team in navigating the treacherous waters of political promises. Whether or not this new stance will resonate with Ghanaians, who have been promised the moon and stars before, remains to be seen. For now, Mahama has conceded that turning around Ghana’s economy in just three months is, unsurprisingly, not within his immediate capabilities.

Source: GhanaFeed.Com

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