- Dr. Mahamudu Bawumia has disclosed that the Akufo-Addo administration is thinking outside the box for solutions to Ghana’s problems
- The vice president makes the case that government has introduced various innovative solutions including online transactions
- Dr. Bawumia is honing prospects of running for the party presidential candidate of the NPP in the year 2023
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Dr. Mahamudu Bawumia says government is using creative strategies and policies to transform the economy, myjoyonline reports.
Speaking to party members at the National Delegation Conference on Sunday, he said the government was transforming and promoting economic development by introducing a working-class partnership, digital property address system and paper-free cleaning of ports among other things.
Dr. Bawumia argued that the New Patriotic Party (NPP) controlled the economy better than the previous government.
“The changes we are making as a party to government are historic and we are building on the esteemed legacy of President J.A. Kufuor. Ours is a government that thinks outside the box to change Ghana, ”he said.
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NPP delegates congress: Cedi experienced lowest depreciation since 1992 - Bawumia
The Vice President, Dr. Mahamudu Bawumia, has argued that the local currency has experienced the slowest rate of depreciation against the dollar in 30 years.
Addressing members of the incumbent party in the NPP national delegates conference, the Vice President makes the case that his administration has put in place all the fiscal measures necessary to keep the cedi strong against the dollar.
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 stated.
Bawumia has come under criticism over his handling of the economy. With a burgeoning debt stock, economists have warned of a potential ballooning debt if not dealt with immediate effect.
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