Joe Jackson Credits NDC’s Fiscal Discipline for Economic Stability
Chief Executive Officer of Dalex Finance, Joe Jackson, has refuted suggestions by the New Patriotic Party (NPP) that the governing National Democratic Congress (NDC) administration is simply capitalising on policies put in place by its predecessor.
Appearing on The Big Issue on Channel One TV on Saturday, February 28, Mr Jackson admitted that the cedi began showing signs of steadiness in the latter part of 2024. However, he maintained that the current wave of economic stability is attributable to prudent and disciplined management by the present government.
“It is incorrect to claim that this administration is benefiting from what the NPP initiated. Did some stabilisation occur in 2024? Absolutely. The currency remained relatively stable during that period, declining from about 17 to 15. But the progress we are observing now is the result of deliberate discipline,” he noted.
He further indicated that the downward movement in interest rates reflected cautious fiscal conduct.
“When we refer to discipline, look at the way interest rates eased. That was because a decision was taken not to borrow beyond a specified threshold to accept only what was required and within an agreed range,” he explained.
His comments come in the wake of remarks by Minority Leader Alexander Afenyo-Markin, who called on President John Dramani Mahama to acknowledge the contribution of former Vice President and NPP presidential candidate Mahamudu Bawumia to the country’s recent economic progress.
Reacting to the 2026 State of the Nation Address, Afenyo-Markin contended that although the President outlined several accomplishments, the administration did not inform citizens that the gold-for-reserves programme, regarded as a key pillar of Ghana’s economic recovery, was initiated under Dr Bawumia’s leadership.
