When it comes to managing Ghana's economy, the National Democratic Congress could best be described as worse managers, Vice President Dr. Bawumia has said.
According to Vice President Dr. Bawumia, NDC's record on the economy is poor and throwing a challenge to the NPP on economic management is just like comparing a worse performer to a best performer.
The Vice President in an address during a town hall meeting and results fair at the Great Hall in Kumasi, explained that under the leadership of President Nana Akufo-Addo, Ghana’s external payments position has strengthened.
He explained that "for the first time in over twenty years, the trade balance (the difference between what we export and what we import) recorded a surplus in 2017, a larger surplus in 2018, and an even larger surplus in 2019."
Vice President Bawumia continued that "it is not because we are importing less, but largely because of increased exports as a result of positive transformation of this economy by the NPP government. The positive trade balance has resulted in a significant narrowing of the current account deficit as a percent of GDP (figures 12 - 13).”
He further supported his argument by stating "Ghana operates a managed floating exchange rate regime. For that reason, we can or should never expect that the exchange rate will be fixed."
Adding that "it will fluctuate depending on demand and supply. What policy makers can do is to try to control the rate of depreciation or appreciation of a currency through sound policies. In the context of a floating exchange rate regime therefore, arresting the depreciation of a currency can only mean slowing down the rate of depreciation or stopping a rapid and volatile depreciation of the currency."
Source: ghbeyondpolitics.com
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is mahamadu bawumiliar pregnant? i think he needs a pregnancy test from dr. nyarho tamakloe's hospital to confirm so that the state can start paying for his maternity bills. his stomach shows he may give bith to septuplet.
Shane on NDC. Ghana is working again. We than the almighty for Nana/Bawumia
Dr.Bawumia is intelligent. Ndc are no good.
I am so so disappointed at the second gentleman of our great land speak like he is speaking to his last born who is yet unborn. I can get the head and tail of what you said is an achievement. I think everyone listening to you should shut the door of their ears and walk away with their head bow. Aaah, aah,aaah was look it is a shame.