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General News of Tuesday, 25 August 2020


We have superior records in all sectors of the economy - Bawumia

Vice President, Dr. Mahamudu Bawumia Vice President, Dr. Mahamudu Bawumia

Vice President Dr Mahamudu Bawumia has said the government of President Nana Addo Dankwa Akufo-Addo has superior records in all sectors of the economy as against the records of the National Democratic Congress (NDC) administration.

Dr Bawumia told Kwame Sefa Kayi on the Kokorokoo porgramme on Peace FM Tuesday, August 25 that “in all the sectors our records are superior.”

He further explained that the government has been able to stabilize the economy in all sectors, slowed down the rate of debt accumulation and also reduced lending rate.

“When we came into office, Ghanaians were saddled with a lot of difficulties but we have been able to manage the economy, delivered a few solid records.

“Our fiscal deficit between 2016 and 2019, we brought it down, 6.8 to 4.8 per cent. Between 2016 and 2017 and 2019 , we had surpluses for three consecutive years and that was the first time in a decade; first time in a decade that we have had that then the rate of debt accumulation, increase in our debt stocks has also slowed down, decline in inflation, interest rate, we have also seen a decline in lending rate from 32 to 23 per cent.

“The monetary policy rate came down from 25 to 14.5 per cent, our trade surplus between 2017 and 2019, this is the first time in two decades that we have had trade surplus three consecutive years.

“Our exchange rate depreciation, the rate of depreciation has been halved to 50 per cent less compared to what we inherited. That is a major achievement.”