Vice-President Dr. Mahamudu Bawumia is leading a government delegation made up of ministers and representatives of the various ministries in a town hall meeting and results fair aimed at giving Ghanaians data on the government’s work inn accordance with manifesto promises in Kumasi today.
This public engagement according to the government is to showcase the government’s achievements i connection manifesto promises.
Delivering his keynote address, Vice-President Mahamudu Bawumia said that at the event today, was going to allow the data of achievements gathered speak for themselves.
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He went on with an elaborate presentation on the various steps taken by government to restore the economy strength. According to him, the government in the past few years has been able to achieve feats that are historical, showing their delivering of “the change Ghanaians voted for”.
On this, he points to the Bank of Ghana receiving a top central bank award at the world stage. He also mentions that by the government’s ability to reduce the rapid depreciation of the cedi makes President Akuffo Addo’s government the best performing in a governments’s first term.He said although thr erstwhile Kuffuor government was able to stabilize the cedi’s depriciation, that happened in it’s secod term adding that this, in the first term by the government puts the New Patriotic Party as the best so far. “We also have arrested the rapid depriciation of the cedi” he said.
The vice president touching on the issue of the cedi’s performance against other currencies said that the Ghana Cedi stands now as the best performing currency against especially the United States Dollar. Per this, he adds that the fudamentals of the economy are strongly in place.
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Speaking on the country’strade balance, he said that the country for the first time recorded a surplus for 3 years in a row from 2017 to 2019 adding that these surpluses increased exponentially as the years progressed.
Touching on utilities, Dr. Mahamudu Bawumia said that electricity for instance under this government for the first time saw no increase in the year 2017 which was followed by a 22% reduction in 2018. Although there was an increase in the year 2019, vice-president Bawumia says that the net value has increased.
He also talked about the debt stock of the country saying that the various fiscal discipline easures taken by the government has helped reduces the debt stock of the country to 59% of GDP which is over 200 billion. He adds that although the interest on these loans the country has increased, the burden of debt on the country’s budget has been significantly reduced.
