Stability claims don’t match Ghana’s reality – Abena Osei Asare

Former Minister of State at the Ministry of Finance, Abena Osei Asare, has sharply criticised the government’s assertion that Ghana’s economy is on the mend, arguing that such claims ignore the daily struggles of ordinary citizens grappling with soaring living costs.

Speaking during the debate on the 2025 Mid-Year Budget Review in Parliament on Monday, July 28, Osei Asare rejected the Finance Minister’s optimistic outlook, calling it out of touch with the economic hardships faced by the average Ghanaian.

“The government keeps touting macroeconomic stability but that means very little to families who can barely afford essential items. Mr. Speaker, go and ask for the prices of plain rice not the aromatic one. Ask about cassava, not the fancy items the Minister mentioned. The real situation in the markets tells a completely different story,” she said.

Osei Asare further criticised inconsistencies in the government’s policy direction, highlighting contradictions in the Finance Minister’s proposals.

“On one hand, the Minister says he is working to bring down food prices by boosting production. Yet, on the other hand, he is introducing measures that will increase transport fares by 30 to 40 percent an action that will only drive food prices even higher,” she noted.

Finance Minister Dr. Cassiel Ato Forson had mentioned that inflation had declined significantly, attributing it to the government’s prudent fiscal management and reforms over the past six months.

But Osei Asare dismissed those remarks, arguing that economic relief remains out of reach for most Ghanaians.

She called on the government to shift focus from abstract economic indicators to policies that directly improve the lives of citizens.

“It’s time to move beyond spreadsheets and statistics. We need practical, people-centered solutions that translate economic growth into real change for the average Ghanaian,” she stressed.