Bawumia is an Economic Legend, Brogya Gyamfi and His NDC are Rather a Disgrace to Ghana
On Friday, September 21, 2018 in an interview with Accra base Power 97.9 FM, the former NDC Asante Regional Youth Organizer and a communicator Brogya Gyamfi said the vice president has in the past months subjected himself and the entire Akufo-Addo led government to public ridicule following the government’s inability to grip the country’s economy and deliver on its promises to Ghanaians and therefore labelled him as a disgrace to Ghana.
Not the least bit surprised, when this young, pathologically uncouth has been onto one form of political mischief or another.
Brogya Gyamfi and his cohorts should take their time to read the facts well, appreciate them before running around with fabrications and stop behaving like mediocre scholars.
John Mahama's incompetency, his clueless economic management and reckless expenditure contributed to the overwhelming challenges we faced now as a nation.
If Brogya Gyamfi and his propagandist NDC care to know, the performance of the Cedi over the years shows that the Cedi is recording one of its best performances under Nana-Bawumia administration. The first 18 months of this government has recorded a marginal depreciation of 7% which is unprecedented in our history.
In the entire 8 years of President Kufuor’s (NPP) rule from 2001 to 2008, the price of the Cedi relative to the dollar moved from GHc0.7 to GHc1.2, representing a depreciation of 72%. However, in the 8 years rule of both Presidents Mills and Mahama (NDC) from 2009 to 2016 the Cedi depreciated by 247%, moving from GHc1.2 to GHc4.2.
Under John Mahama, the percentage change resulting out of a depreciation of the GH Cedi against the US Dollar was 79.24% Whilst under Nana-Bawumia, the Percentage Change resulting out of a Depreciation of the GH Cedi against the US Dollar is 12.14%
Fiscal deficit has gone down from 9.3% in 2016 to 5.9% of GDP in 2017, with a projection of 4.5% for 2018, the economic fundamentals are much stronger, deficit is lower, single digit inflation, the debt to GDP ratio is declining, interest rates are also going down and economic growth is increasing among others, which attest to the fact that, Nana-Bawumia led administration are better managers of the economy and if NDC were in power the situation would have been worse.
The era where the economy was been managed with propaganda, cooked figures and corruption with impunity are over, therefore Brogya Gyamfi and his propagandists should wake up and embrace reality.
The NDC owe it a duty to the nation to provide responsible opposition by offering constructive criticisms for the progress of our country. NDC failed the nation when in government and should not fail us again whilst in opposition.
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