According to Vice President Alhaji Dr Mahamudu Bawumia, the economy was on the verge of collapse before the present government took office in 2017.
Interest rates were high, the banking sector was beset by problems, the power sector racked up an annual bill of over GH1 billion, and public sector employment was frozen, among other things, he claimed.
“President Nana Akufo-government Addo’s put forth a lot of effort to turn things around from where they were,” he remarked.
On Thursday, April 7, Dr. Bawumia spoke at an event hosted by the New Patriotic Party’s (NPP) Youth Wing in partnership with the Danquah Institute, a think tank.
The highly anticipated event was also expected to address the economy’s present issues, including the passage of the Electronic Transfer Levy Bill.
He stated that when the present administration took office in 2017, one vision was its main focus.
“[The objective] was to halt the deterioration and improve things.”
“As a country, we proceeded to fix the economy together.” We made significant progress, as evidenced by the records.
“We stabilized the economy prior to the coronavirus outbreak, which has damaged nearly every economy on the planet.”
Freddie Blay, the NPP’s National Chairman, presided over the event.
He urged the party’s youthful members to be determined and firm, emphasizing that the current economy’s fundamentals are sound.
“You should remain steadfast because the economy’s fundamentals, you will hear, [are] quite robust in spite of all the troubles that the world, including Ghana, is facing.”
“However, we must remain steadfast and confident in the knowledge that the future is bright for all of us.”