Audio By Carbonatix
The South African National Democratic Congress Council of Elders Chair, Benjamin Quashie, has posited that Vice President Mahamudu Bawumia's performance would go down in history as Ghana's worst head of economic management team.
According to him, Dr. Bawumia had no right to request the late Vice President Amissah Arthur to provide answers to some questions about the economy when he was the running mate to the then NPP flagbearer, Nana Addo Dankwa Akufo-Addo.
Speaking on Happy FM's Morning Show, the SA NDC Chair hinted that the economy of Ghana is performing poorly and this is an indictment on the Vice President and this is the reason why President Mahama's 24-hour economy is a good proposal Ghanaians must embrace.
To buttress his point, he shared that "lending rates in 2016 were 8.3% but 14% in 2021. Again in 2016, the budget deficit was 6.1% but in 2020 it was 15.7%, expecting that in 2022 it would be 12%.
"The unemployment rate before we [NDC] exited office in 2016 stood at 8.4%, in 2021, the last one we had was 14%. If we don't do things differently we will continue to get the same rates as has happened to almost all governments in the Fourth Republic," he stated.
Regarding the above, Mr. Quashie believed that there needs to be a complete paradigm shift from the old way the economy has been operating all these years and this is where the 24-hour economy comes in handy.
According to him, while others, especially members of the ruling government have tried to pooh-pooh the policy, “the TUC has agreed upon it, CEOs' Forum have agreed upon it, Austin Gamey has agreed upon it. Other people who know our economy is on the downward spiral have all agreed that the 24-hour economy can help make a difference.”
He added that the 24-hour economy would work on an 8-hour shift system.
“We've all traveled and we know how these things work. Why can't we replicate the same in our country?” he quizzed.
“This is a game changer. It would ensure unemployment is reduced, ensure our economy grows and there is a whole blueprint to that effect,” he stated.
Latest Stories
-
Five-year-old boy dies after getting caught in ski travelator
1 hour -
‘This is an abuse of trust’- PUWU-TUC slams gov’t over ECG privatisation plans
1 hour -
Children should be protected from home fires – GNFS
1 hour -
Volta Regional Minister urges unity, respect for Chief Imam’s ruling after Ho central mosque shooting
1 hour -
$214M in gold-for-reserves programme not a loss, Parliament’s economy chair insists it’s a transactional cost
2 hours -
Elegant homes estate unveils ultra-modern sports complex in Katamanso
2 hours -
ECG can be salvaged without private investors -TUC Deputy Secretary-General
2 hours -
Two pilots killed after mid-air helicopter collision in New Jersey
2 hours -
2025 in Review: Fire, power and the weight of return (January – March)
3 hours -
Washington DC NPP chairman signals bid for USA chairmanship
3 hours -
Sheikh Ali Muniru remains Volta regional Imam, says National chief Imam
3 hours -
GoldBod CEO accuses Minority of hypocrisy over Gold-for-Reserves losses
3 hours -
Sammy Gyamfi to address alleged losses under gold for reserves programme on Jan 5
4 hours -
BoG–GoldBod $214m hit is design failure, not market loss – Minority
4 hours -
Festive season sees minor fires, but domestic cases hit 15–20 daily – GNFS
4 hours
