The Deputy Trades Minister, Dr. Stephen Amoah, has addressed Fitch Solution’s recent prediction that the opposition National Democratic Congress (NDC) has a better chance of winning the 2024 election. Dr. Amoah emphasized that the prediction is not a definitive outcome for the party.
Dr. Amoah acknowledged that incumbent leaders face significant pressure due to current global economic challenges, making it common for agencies to make such predictions. However, he emphasized that the prediction does not guarantee the success of the opposition in the upcoming election.
The Deputy Minister highlighted that global circumstances, such as the impact of the COVID-19 pandemic and the Russian-Ukrainian war, have led to diminishing goodwill for incumbents worldwide. He noted that even in major economies like the United Kingdom, interest rates and inflation rates have surged, resulting in increased challenges for incumbent leaders.
Dr. Amoah explained that people are now recognizing the severe impact of these global crises and are focusing on finding solutions to mitigate their effects. While he acknowledged the credibility of Fitch Solution’s analysis, he asserted that the election outcome is not predetermined and that various factors will influence the final results.
The Deputy Minister concluded that the current global context has placed incumbent leaders in a challenging position, but it is crucial to consider the broader dynamics and specific circumstances of each election.
According to him, it does not guarantee the success of the opposition in the next election.
“I think it would be very difficult for somebody to hold Fitch and say that what you’re saying is entirely out of order. However, I think it is also not a done deal issue for the opposition party.
“In the first place, globally, I’m not comparing country to country but even the giant economies – If I’m telling you that interest rate or base rate in UK post-covid has been increased about 1800%.
“From 0.25, it’s now 4.25. Prices of goods and services, 46 years now, they’ve never seen inflation rate the way they’re seeing it.
“So all over the world, we all know any incumbent will not be in the good books of its electorate or people. It’s a fact,” he said on JoyNews’ AM Show.