Despite cedi depreciation, Ghana’s economy still strong – Bawumia

Despite cedi depreciation, Ghana’s economy still strong – Bawumia

- Vice President Bawumia has said despite the cedi deprecation, Ghana’s economy is getting stronger

- He thus allayed fears that Ghana’s economy will crumble

- Bawumia’s comments come after many criticisms of the economy by well-meaning Ghanaians.

The Vice President, Dr Mahamudu Bawumia, has said that despite the deprecation of the cedi, Ghana’s economy is still growing stronger.

Revealing the cause of the cedi depreciation, Dr Bawumia said the dollar’s strength is what is causing the cedi to sink.

He added that other currencies like the pounds, not just the cedi, were also struggling against the US dollar.

Vice President Bawumia

Vice President Bawumia

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According to him, even though the cedi keeps depreciation, Ghana’s economy is in good hands, therefore, allaying the fears of Ghanaians that the economy will crumble.

However, well-meaning Ghanaians and politicians have criticized government for failing to fix the cedi’s fall, and also deal with its general impact on the larger economy.

But Bawumia slammed members of the NDC who were complaining against the economy because he claimed they lacked the moral authority to accuse the NPP government which inherited a “Tattered economy” from them.

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According to him, Ghana’s economy is in good hands and is being steered in the right direction for growth.

He thus advised Ghanaians to ignore naysayers who believe the economy is on a downward trend instead.

Be reassured that this economy is in good hands. We are not where we want to be, but we believe that we are on course. But as all good sailors know, rough and turbulent seas are no indication that you are not steering well,” he said, according to a Citinewsroom report.

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However, one group which has lamented the poor economy growth, is the Spare Parts Dealers Association.

According to the group, even though it donated an amount of GH₵200,000 to Akufo-Addo’s 2016 election campaign with the promise of helping members of the association to improve their business, the president has failed.

Meanwhile, the New Patriotic Party (NPP) Member of Parliament for Assin Central, Kennedy Agyapong, has said the NPP government is to blame for the poor performance of the cedi.

He accused President Akufo-Addo and Veep Bawumia of lying to Ghanaians about the issues concerning the cedi depreciation.

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Source: Yen.com.gh

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