Minister for Government Communications, Felix Kwakye Ofosu, has issued a sharp rebuttal to the Minority in Parliament, insisting that the current administration inherited an economy in complete collapse. Taking his turn during the 2026 Budget debate, he argued that the conditions left behind by the former government were the worst in Ghana’s history.
“Mr Speaker, that the economy we inherited from them was in shambles is a matter of public record and is not in doubt,” he stated.
He explained that economic assessments rely on verifiable indicators, not partisan narratives. According to him, the previous administration’s own records prove that it plunged the nation into severe economic distress.
“As it has always been said, economic analysis is done based on specific indices. There are metrics you use to measure performance, which are not subject to opinion,” he emphasised.
Mr Kwakye Ofosu pointed out that Ghana recorded its first-ever sovereign default under the former government, a development he described as deeply damaging. He added that the nation’s credit ratings were downgraded to junk status, placing Ghana among the highest-risk economies in the world at the time.
“For the first time in the history of Ghana, a government defaulted on our debts, and our credit rating was at junk status,” he said. He added that the level of decline was so severe that it earned the outgoing administration what he described as a “Borla economy,” using local slang for rubbish.
“In the local parlance, we call it ‘Borla’, to wit, rubbish, that was the state of our ratings,” he remarked, insisting that the economic fundamentals were broken long before the new government arrived.
He urged the Minority to confront the reality of the economic collapse they oversaw instead of attempting to shift blame to the current administration for challenges rooted in their own mismanagement.
Mr Kwakye Ofosu concluded by stressing that an honest reflection on the past is necessary for meaningful debate and national progress.
