Vice President and flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has fired back at critics of the Akufo-Addo government’s economic management, particularly with regards to the exchange rate.
According to Dr. Bawumia, the NPP’s handling of the exchange rate demonstrates superior economic management compared to the National Democratic Congress’s (NDC) record.
Dr. Bawumia pointed out that under the NPP government, the Ghanaian cedi has depreciated by 74%, whereas the NDC oversaw a 72% depreciation during their time in office.
However, he argued that the NPP’s achievement is more impressive considering the global economic challenges the country faced during their tenure, including the Russia-Ukraine war, Covid-19 outbreak, and global economic recession.
The Vice President emphasized that the performance of the exchange rate should be assessed based on the rate of depreciation, rather than focusing solely on nominal figures.
He also stated that the NDC lacks a proper understanding of how exchange rates are measured and managed.
Dr. Bawumia urged Ghanaians to consider the broader context and external factors when evaluating the government’s economic performance. He reaffirmed the NPP’s commitment to stabilizing the economy despite unprecedented global difficulties.
The Vice President’s comments come as the NPP prepares for the 2024 general elections, with Dr. Bawumia as its flagbearer. The NPP has been touting its economic management record as one of its key achievements, and Dr. Bawumia’s comments are likely to be seen as a continuation of this narrative.
Source: OccupyGh.com
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