Vice President Dr. Mahamudu Bawumia praised the Akufo-Addo administration for better management of the local currency, the Cedi, compared to the previous Mahama administration.
The rate of Cedi’s fall against major trading currencies, particularly the Dollar, has decreased compared to the previous experience under Mr. Mahama.
“The depreciation of the Cedi under our government is lower than what we inherited from the 2013-2016,” the flagbearer of the New Patriotic Party (NPP) said during his address at the University of Professional Studies, Accra on Wednesday, February 7.
Dr. Bawumia emphasized that the Covid pandemic and the Russia-Ukrain war significantly impacted global economies, including Ghana.
The Akufo-Addo administration, despite inheriting challenges from the Mahama administration, successfully stabilized the economy with positive economic indicators, but the pandemic and war negatively impacted these indicators.
“Notwithstanding the difficulties we inherited, we had to get on with …we have to among other things fix dumsor, National Health Insurance, clear the arrears, make education free and accessible
“Between 2017 and 2019, all the indicators, economic growth, industry growth, fiscal deficits, and exchange rate were all moving in the right direction.
“In 2020 and 2022 we experienced several challenges triggered by the pandemic which brought the world to a halt,” he said.
Dr. Bawumia praised the Bank of Ghana for its support during the crisis and criticized the central bank’s criticisms as unfair.
“The Bank of Ghana provided needed financing to the government at a critical moment. What the BoG did was very responsible in putting the interest of the citizens first,” he said.
By: Rainbowradioonline.com/Ghana
