Lecturer at the University of Ghana Business School and political scientist, Dr. Kobby Mensah has analysed the over an hour ‘state of the economy’ address delivered by Vice President Dr. Mahamudu Bawumia.
In a series of tweets, the lecturer noted that Dr. Bawumia has been less confident in his own lecture, since he began.
According to him, “the second gentleman of the land is no longer in his comfort zone”.
He tweeted, “no jabs, no slogans, no belly laugh, more glitches, moments of dysgraphia, pensive and jittery audience, not to talk about selective evidence”.
The Vice President Dr. Mahamudu Bawumia has said Ghana is directly affected by the ongoing geopolitical tension between Russia and Ukraine.
He stated while addressing TESCON members on Thursday, April 7 that Russia accounts for some 30 per cent of Ghana’s imported grains, 50 per cent of flour, and 39 per cent of fertilizer.
“The increase in commodity prices has been exacerbated by the Russia-Ukraine conflict. Russia and Ukraine together account for 30 per cent of the global wheat export. The longer the conflict the greater will be the disruptions to global food supply. The country is also likely to slow global growth.
“According to the AfDB the price of wheat has shot up by 62 per cent since the war began. The price of fertilizer is up by 300 per cent, the price of maize is up by 36 per cent since the war begin. Here in Ghana 60 per cent of our total imports of iron ore and steel are from Ukraine.
“Russia accounts for some 30 per cent of Ghana’s imported grains, 50 per cent of flour, and 39 per cent of fertilizer. So we are directly affected by the Russia-Ukraine war. Unfortunately, we do not know when it will be over. The global increase in fuel prices is causing hardship.”
“The economy is what we feel in our pockets. I acknowledge that we are going through difficult times, this is the reality. Our economy is experiencing rising prices of fuel and virtually all commodities. Prices are on the rise.”
“These have come as a surprise to many Ghanaians and many questions have been asked about the state of the economy. Do these questions include what has happened to the fundamentals? Why are the prices of goods and services increasing so fast? Why has the Cedi depreciated so fast this year?
“What programess does the government have to show for the higher debt? Where is the new economy that the government promised to build? I will address these questions based on data and facts.
“I will admit where there have challenges and we will all leave here with a better state of the economy, where we have come from, and where we are going.”
But reacting to these comments, the lecturer noted that the Vice President has completely anchored his speech on two events – covid and Russia – the Ukraine war.
“He’s essentially saying that all the gains they chocked have been eroded by these two events. Most of the economic messages were – “we were able to, we were able to”, he tweeted.
To him, “Bawumia could have saved us all these hours with just one line – “we did well but we have been washed away by Covid and Russia – Ukraine war”, he said in another tweet.