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Vice President Mahamudu Bawumia is optimistic that the New Patriotic Party( NPP) will win the 2024 election with superior record.
Speaking at the Party’s 2021 National Delegates Conference in Kumasi on Sunday, he said “I believe that Insha Allah we will be able to break the eight because our record is a superior record”.
“ Whether we are talking about agriculture, industry, roads, housing, education, health, transformational policies like digitalization, social interventions and so on the comparison between us and the NDC will be like night and day. Can you remember any transformational policy implemented by the NDC in their last 8 years in Government? Can you remember any social intervention implemented by the NDC in their last eight years in government to reduce the suffering of Ghanaians? “ he added.
Touching on the economy , Dr Bawumia indicated that “notwithstanding the global economic adverse impact of the Covid-19 pandemic on economic growth, debts and deficits, at the macroeconomic level,Inflation in Ghana today at 12.2% is lower than it was in 2016 (15.4%)”
He added that the average Bank lending rates in Ghana today (21%) are much lower than they were in 2016 (32%).
“According to the Bank of Ghana, the average exchange rate depreciation over the last four years (7.3%) is the lowest for any first term government since 1992. The year 2020 recorded one of the lowest rate of depreciation in the last 28 years. The cumulative exchange rate depreciation of 2.6% in November 2021 the year is lower than 9.7% depreciation recorded in 2016.
“For the first time in over two decades, the trade balance (the difference between what we export and what we import) recorded a surplus for four consecutive years from 2017-2020,” he said.
Gross International Reserves are at $10.8 billion (4.9 months of import cover compared to $6.9 billion (3.5 months of import cover) in 2016 “
“Our record of creating jobs (over 750,000 jobs) is vastly superior to the record of the NDC government which froze public service recruitment.
“So, if our performance on the key macroeconomic indicators (inflation, interest rates, depreciation, external reserves, trade balance and jobs) during the worst global pandemic in 100 years is better than your performance without such a pandemic how can you say your economic management is better?” the vice president said.
Ghana | Atinkaonline.com