Mahama Pledges to Curb Election-Year Spending: “I Will Not Be a Candidate in 2028”

President John Dramani Mahama has vowed to break Ghana’s cycle of election-year overspending, declaring that his decision not to seek re-election in 2028 will enable him to maintain strict fiscal discipline without electoral pressures.

Speaking during bilateral talks with Singaporean President Tharman Shanmugaratnam on Wednesday, President Mahama emphasized his commitment to responsible spending in the lead-up to the next general elections.

“I will not be a candidate in the next elections and therefore I can hold the line when it comes to fiscal discipline,” Mahama stated, positioning his adherence to Ghana’s constitutional two-term limit as a strategic advantage for economic management.

The President criticized the historical pattern of incumbent governments abandoning fiscal restraint to win voter support during election periods, a practice he says has contributed to Ghana’s recurring economic crises.

“I will curb election-year expenditure overruns because I am not running for office,” Mahama declared, directly addressing concerns about pre-election fiscal irresponsibility that has plagued previous administrations.

During the Singapore meeting, which focused on economic cooperation and investment opportunities, President Mahama highlighted early successes of his administration since returning to power following December’s landslide electoral victory.

The President pointed to “rapid declines in inflation and interest rates, as well as a significant appreciation of the cedi” as evidence of his government’s economic management capabilities.

Mahama’s remarks also served to counter opposition New Patriotic Party (NPP) allegations that he harbors ambitions for a third presidential term, reaffirming his respect for constitutional term limits.

The bilateral discussions in Singapore are part of a three-day state visit aimed at strengthening economic ties between the two nations, with Singapore’s reputation for fiscal prudence making it a strategic partner for Ghana’s economic recovery efforts.

President Mahama’s pledge represents a departure from traditional political behavior, where outgoing leaders often increase spending to boost their party’s electoral prospects, potentially offering a new model for responsible governance transitions in Ghana.