Vice President Dr. Mahamudu Bawumia says a news article in the international media outlet, Bloomberg goes a long way to prove Ghana’s stabilised and growing economy amidst Covid-19.
The article dated November 23, 2020, stated that “Ghana is one of the first countries in sub-Saharan Africa to lower interest rates to counter coronavirus shock.”
The Governor of the Bank of Ghana, Dr. Ernest Addison who spoke to reporters on Monday, prior to the release of the report said, “indicators now show faster economic growth than earlier projected.”
“This economy has performed better than forecast even as the pandemic stalled activity and the oil price slumped,” he added.
But speaking at the Nation Building Updates at the Cedi Conference Hall, University of Ghana, Dr. Bawumia said the New Patriotic Party got to that position by taking rigorous measures to ready the economy to face Covid-19.
“Prior to the Coronavirus pandemic which has impacted all
economies in the world, we stabilised the economy.
“We reduced inflation, doubled economic growth in our first three years, and reduced exchange rate depreciation,” he said.
The Vice President who was speaking on the theme, ‘December 7 and the future of the economy’, boasted about his party’s ability to encourage existing businesses to make new investments, and expand through public sector-driven job creation interventions and initiatives.
“This led to Ghana becoming the destination of choice for Foreign Direct Investments (FDI) in West Africa according to the 2019 World Investment Report by UNCTAD,” he said.
The Vice-President urged Ghanaians to vote for President Akufo-Addo to “ensure that the management of the economy continues to remain in the hands of the person who is not only capable but one who has been able to deliver on his promises.”
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