Vice President Mahamudu Bawumia has asserted that the New Patriotic Party (NPP) administration has managed Ghana’s economy better than the National Democratic Congress (NDC) did during their tenure.
Speaking at ongoing meet the press in Accra, Dr. Bawumia highlighted the NPP’s achievements in stabilizing the economy, reducing inflation, and promoting economic growth. He emphasized that the current administration has implemented policies that have yielded positive results, contrary to the NDC’s tenure, which was marked by economic mismanagement and stagnation.
“We have worked tirelessly to restore macroeconomic stability, reduce inflation, and promote economic growth. Our policies have yielded results, and we are confident that we have managed the economy better than the NDC,” Dr. Bawumia stated.
He cited examples of the NPP’s achievements, including:
– Reducing inflation from 15.4% in 2016 to 7.6% in 2023
– Stabilizing the cedi against major currencies
– Increasing economic growth from 3.4% in 2016 to 6.5% in 2022
– Implementing policies to reduce poverty and improve living standards
Dr. Bawumia also criticized the NDC’s economic record, pointing out that they oversaw a period of high inflation, currency fluctuations, and stagnant economic growth. He argued that the NDC’s policies were focused on short-term gains rather than long-term sustainability.
The Vice President’s assertion has sparked debate among economists and political analysts, with some supporting his claims and others disputing them. However, it is clear that the NPP administration has made significant strides in improving Ghana’s economic fortunes.
As the country heads towards the 2024 general elections, the economy is likely to be a key campaign issue. The NPP will likely highlight their achievements, while the NDC will seek to discredit them and outline their own vision for economic growth and development.
