Vice president Dr. Mahamudu Bawumia, has taken swipe at the opposition National Democratic Congress (NDC) over the management of the country’s economy.
According to him, the NDC is economic wreckers whilst the New Patriotic Party (NPP) are better managers of Ghana’s economy.
The Vice President headlining the first government town hall meeting for 2020 in Kumasi said, “Under the NDC the cedi was running at the speed of Usain Bolt, but under the NPP, the cedi has been arrested.”
He explained that “Ghana is not practicing a fixed exchange rate regime but a floating exchange rate regime, so we can expect the exchange rate to be fixed. Rather the rate of the local currency’s depreciation is what can be reduced and that is what the government has been doing.”
READ MORE: We’ve steadied the economic ship, Ghana is on course – Bawumia
Dr. Bawumia also said the sterling performance of the Bank of Ghana under Akufo-Addo’s administration is the reason the central bank has been ranked very high on the global rankings for central banks.
He, however, asserted that the government is also managing inflation better than the previous government. “This better management of inflation is reflected in the price of petroleum products, 13.5% on an average increase of the commodity under the current government compared to 25% average under the previous government.
READ MORE: Savings and loans, microfinance depositors will get 100% of their deposits – Bawumia
Under the Auspices of the Information Ministry, the meeting focuses solely on updating Ghanaians on the fulfillment of its promises and commitments made ahead of the 2020 elections.
The governing NPP in its 2016 Manifesto committed to 388 promises.
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