Former Member of Parliament for Subin, Eugene Boakye Antwi, has attributed the New Patriotic Party’s (NPP) defeat in the 2024 general election to unpopular economic policies introduced in the aftermath of the COVID-19 pandemic.

Speaking on Channel One TV’s Face to Face with Umaru Sanda Amadu on Tuesday, July 1, Mr Boakye Antwi stated that although Ghana’s economy was on the right path before the pandemic, several fiscal interventions meant to stabilise the economy ended up alienating voters.

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“The economy was on the right track before COVID-19 struck. COVID-19 struck, and all hell broke loose. We then had to in­troduce more austere policies like the E-Levy, Betting Tax, and what have you. And those kinds of policies did not help,” he said.

The former Subin MP also pointed to the government’s controversial Domestic Debt Exchange Programme (DDEP) as a critical factor that further weak­ened public confidence.

“After the International Mone­tary Fund, there were other aus­tere policies like the DDEP, and what have you. Former President, Nana Addo Dankwa Akufo-Addo, addressed the nation and assured our savers, pensioners, and inves­tors of no haircut, but there was a haircut. The haircut wiped away investments, pensions, and sav­ings. And that hurt us very badly. It just didn’t impact the economy; it wounded us,” he stressed.

Mr Boakye Antwi’s comments echo sentiments among political observers and some NPP insiders, who have cited economic hard­ship, policy missteps, and broken promises as key reasons for the party’s electoral defeat.

The former lawmaker’s reflec­tions come amid ongoing debates within the NPP on how to regroup and rebuild public trust ahead of the 2028 elections.