NDC gov’t holds best economic record under the Fourth Republic

The Minister of State in charge of Government Communications, Felix Kwakye Ofosu, has declared that the National Democratic Congress (NDC) government holds the best economic record under Ghana’s Fourth Republic.

Citing the recent drop in inflation to 3.8%, Ofosu Kwakye noted that several “historic economic milestones” have been achieved only during an NDC administration.

Reacting to news of the latest drop in inflation on Wednesday, the Minister outlined a number of economic achievements “that have positioned the current administration as the strongest economic manager” in the Fourth Republic.

According to the Minister, the NDC government’s economic record includes the highest growth rate of 14.4% achieved in 2011, lowest inflation rate of 2.9% recorded in April 1999, longest sustained single-digit inflation spanning 33 months from 2010 to 2012, highest annual cedi appreciation of 40.7% against the dollar in 2025, largest reserves of $13.8 billion as of end-2025, and the highest import cover of 5.7 months as of end-2025.

“On the back of the 3.8% inflation rate recorded for January 2026, it bears placing on record that the NDC has the best economic record under the Fourth Republic,” the post read.

The Minister’s statement follows the Ghana Statistical Service’s announcement on Wednesday that inflation has fallen to 3.8% in January 2026, down from 5.4% in December 2025, marking the 13th consecutive monthly decline and representing the lowest rate since the Consumer Price Index (CPI) rebasing in 2021.

Government Statistician Dr. Alhassan Iddrisu reported that the CPI rose to 262.3 in January 2026 from 252.6 recorded in January 2025, translating to a remarkable 19.7% drop from the 23.5% recorded in January 2025.

Both food and non-food inflation eased significantly, with food inflation declining to 3.9% from 4.9% in December 2025, while non-food inflation fell to 3.9% from 5.8% over the same period.

A key driver of the consistent decline has been the remarkable appreciation of the Cedi, which gained approximately 30% against the US dollar in the first half of 2025 and recorded a 40.7% year-on-year appreciation as of end-2025, data from the Bank of Ghana indicates.

“There are those who make hubris-laden claims of preternatural economic management ability but delivered the most disastrous outcomes in decades. Always check the records,” Kwakye Ofosu added.