General Secretary aspirant of the New Patriotic Party (NPP), Eugene Boakye Antwi, has admitted that the struggling economy was the decisive factor behind the party’s defeat in the 2024 general elections.

Speaking on JoyNews’ AM Show on Thursday, September 11, the former Subin MP argued that broken promises on economic policy and the fallout from the Domestic Debt Exchange Programme (DDEP) eroded the NPP’s credibility with voters.

“It was clear that the economy was what cost us the election,” he said.

“The President at the time had told the whole country in a live broadcast that there was not going to be a haircut. But further down the line, his Finance Minister, Ken Ofori-Atta, introduced haircuts. That DDEP, according to the numbers being bandied about, affected 800,000 Ghanaians.”

Mr Antwi stressed that the ripple effect of the policy was politically damaging, estimating its impact on voter numbers.

“If you divide that 800,000 between NPP and NDC, that’s 400,000 each. Multiply by four—your wife and two children—and that alone gives you 1.7 million votes. That is where we lost the elections,” he explained.