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.
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.
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.
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.