Vice President Dr. Mahamudu Bawumia says the depreciation of the Cedi to major foreign currencies was worse under the previous Mahama administration.
“In the area of exchange rate which some people have been talking about recently, I just want Ghanaians to know that in 2012, the cedi depreciated by 17 percent in 2013.”
He said that “in 2014 it depreciated by 32 per cent and in 2015 and 2016 it depreciated by 11.9 percent and 9.7 percent respectively.”
Addressing hundreds of Muslims in Sekondi during the celebration of the birthday of Prophet Mohammed also called ‘Mawlid’ on Saturday, the Vice President said that the current government has done in two years.
“Under Nana Akufo-Addo, the cedi depreciated by 4.4 percent in 2017 and in 2018, the depreciation rate was 8.8 percent. In 2019, so far the cedi has depreciated by 3.6 percent,” the Vice President added.
He also revealed that the current government has brought down the country’s deficit to 3.9 percent from the 9.3 per cent it inherited from the NDC, adding “So we have reversed what we inherited and this is the lowest deficit in the last 10 years.
“Today inflation is 9 percent- the lowest inflation in the last five years. Our debt to the Gross Domestic Product (GDP) ratio is falling and interest rates are also falling,” Dr. Bawumia pointed out.
He said government had fulfilled its major 2016 electioneering campaign promises to Ghanaians.
The Vice President mentioned the implementation of the free Senior High School (SHS) and restoration of the teachers and nurses’ allowances.
He also disclosed the establishment of the Zongo Development Fund, hiring and paying of Arabic Instructors, implementation of the Planting for Food and jobs policy, creation of the national identity cards and digital address system.
“We have created six new regions and for 50 years the country could not get solution to the Dgbon crisis, but by the grace of Allah and the tenacity of President Akufo-Addo supported by the eminent chiefs, today we have peace in Dagbon and a Ya-Na,” he added.
Mawlid
The Vice President observed that the celebration of the Prophet’s birthday was a blessing to mankind and indicated Allah’s unparalleled favour to the universe.
“If it is faith in Allah, we should learn from the Prophet’s remarkable display of faith in Allah despite the trials and tribulations he went through during his time in Mecca. If it’s love let us be inspired by the Prophet’s love and kindness to people,” he added.
He pointed out that the government of President Akufo-Addo would always be grateful to the people of Ghana for entrusting the governance of the country to them.
Chief Imam
The National Chief Imam, His Eminence Sheik Osman Nuhu Sharabutu, was happy about the cordial relationship that exit between Muslims and Christians in the country and called on members of the two religious sects to always pray for the peace of Ghana.
He admonished Muslims to continue to let their lifestyles conform to the tenets of the Islamic religion and teachings of the Holy Prophet.
Zongo Minister
The Minister for Inner City and Zongo Development, Mustapha Abdu-Hamid, stressed that under the current government, no member of the Zongo community would be denied his or her citizenship.
Source: Daily Guide
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Oh my God! This man does not know Shammmmmmmme!
I miss Dr. Bawumiah's lectures. He should start lecturing giving us lectures on the economy. He is too silent for my liking.
They were not good managers that's why they were voted out, so if you always try to compare yourself to the so called incompetent one then who are you? Supper incompetent? Fix it and stop this unnecessary analysis.
Another PEACOCK talking after all they are putting Ghana through, just to listen this stu++pid guy baumia again. You can continue to lie but Ghanaians have already decided where to place you and you boss npp come 2020. Just sh++ut the hell up.
He does not feel ashamed. He is still talking. Cedi is over GH¢5.20 and he still comparing to past years.
the struggle and falsehood claim for the resolution of the dagbon crises makes every bit of his submission questionable. we need sensible and better comparism than this backward comparism. So you are proud the cedi is depreciating but but depreciating as in the time of the NDC. Ma guy, wise up na Ghanafo) abre3 wo
Numbers do not lie. Dr Bawumia is too much. We can still do better because our people are suffering. Stay focused and do not get distracted by the armed robbers Ndc.
I support this government and I think it is better than the NDC by all standards. BUT your argument is a typical race to the bottom. Who gets to the bottom faster is only a relativity argument at best. In essence however, it helps nobody!
THE MAN IS TALKING ABOUT FACT SUPPORTED WITH FIGURES. IF YOU HAVE ANYTHING CONTRARY, LET US KNOW.
is this man serious. what? is really annoying to hear this man speak about the cedi depreciation. this man must be serious.