The New Patriotic Party (NPP) said on Monday that the government is making "strenuous efforts" to put the economy on a proper footing.
In a statement signed by Mr Samuel Odoi-Sykes, National Chairman, in reaction to a press conference by former President Jerry Rawlings last week, the party said within one year, the results would begin to show.
The NPP said it has been given the mandate to rule the country for four years. "By the constitutional order in Ghana, Ghanaians must wait till the end of that period to decide to either remove the government from power through the ballot box or give it another term in a free and democratic election.
"This will depend on the assessment of the government's performance at the end of the four years."
Former President Rawlings said the NPP was trying to make his National Democratic Congress (NDC) a scapegoat as the government was finding it difficult to fulfil its election promises.
The NPP said it is whimsical to expect its government, and for that matter any government, to fulfil its campaign promises within four months.
He said the ex-President "left behind a shattered and bankrupt economy, pervasive poverty, widespread official corruption, hunger and disease, serial killings and an obnoxious human rights record."
The statement referred to President John Agyekum Kufuor's promise that he would accord the ex-President the respect and courtesies he deserves and said: "This is not a mark of weakness or softness. If Mr Rawlings chooses to resume his old campaign of unwarranted insults and vilification, I can assure the ex-President that all Ghanaians and the NPP will respond appropriately."
The statement also referred to former President Rawlings' statement that he believes in democracy, but not in multi-party democracy, which according to him is not suitable for Africa.
"The former president must surely be confused about the real attributes of democracy," the NPP said.
"Sufficient to say that his track record of two military take-overs, especially his unjustifiable and illegal overthrow of (President) Limann's constitutionally elected government in 1981, and his open declaration of contempt for the ballot box categorically negate his claims to democratic pretensions".