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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I think bawumia is a fake PhD with no economics background. How can you give the important bauxite away for hundred years? How can you give oil contact to ExxonMobil when a Ghanaian company was bidding higher, how can you waste money on NABCOB when you can use the money to construct feeder roads and make organic food cheaper, more than 70 percent of foodstuffs gets rotten in farms for lack of transportation. A PhD that doesn't know the significance of a national grid! How can you give foreigners access to ECG? It's unwise! It's unthinkable!
Economist my aaaaassssssss! Even the market women in makola are better managers. Ghanaians must brace themselves because the dollar is going to rise like never before because of the sale of ECG. Every electricity we buy will be converted into dollars and shipped out by the concessionaires, so it would be very difficult to get dollars.
Continue dey talk rubbish wae...You think you guys can always take us for ***barred word***?...Don't work and keep jabbing wae....***barred word***!!!
The MOST USE_LESS INCOM_PETENT CLUE_LESS person in leadership today. How did this man pass his economics exam? When the fundamentals are weak, your lies will expose you. Si** man!!!
The Cedi is 5.35 to a dollar and you say what? I think in my own opinion you are very "competent"
This prat with more lies, we are tired and sick of your insensible lies, Bawumia the liar.
Speaking the truth is like liking the ***barred word*** of your beloved mother but it must be told at all times.I think Dr. Bawumia must spare our ears with such unwholesome comparrisms. If one compares his height with that of a Dwarf he does no good to himself. The Cedi to Dollar is over Ghc5.00 and you say what?To say the truth things are not working or they are working for some few.
HAHAHAHA, BAWULIAR OR WHAT DO YOU CALL YOURSELF, SO YOU SEE GOVERNANCE IS NOT LIKE DRINKING KOKO. YOU SAID AND I QUOTE IF THE FUNDAMENTALS ARE WEAK OR WRONG, THE EXCHANGE RATE WILL EXPOSE YOU. YOU SEE THE WHOLE ECONOMY IS CONDEMNING YOU AND ADMIN BIG TIME. YOU ARE NOT ONLY INCOMPETENT BUT INCAPABLE. DR OF THEORY, WHEN YOU GO BACK IN 2020, YOU WILL BE CAREFUL WITH YOUR CHOICE OF WORDS. TELL US THOSE WHO BENEFITED FROM ZONGO DEVELOPMENT FUND. YOU TRY GOING TO THE ZONGO AND YOU WILL THE REALITY. CREATING OF THE 6 REGIONS IS NOT THE END OF THE STORY, SO DONT START IT. BESIDES NDC PLANNED DOING SAME. PLS PLS YOU ARE A BIG MAN, THE DAGBON CRISIS DID NOT START 50 YEARS AGO. DO NOT CHANGE OUR HISTORY.
"When you play politics with the foundamentals of our economy, the exchange rate will expose you"Dr. Bawumiah.. is the fundamentals of the economy right?
The Cedis to Dollar is now 5.35, and you say what tin? what a muumuu vice president.Is your governance all about NDC? what a shame!!