NDC’s best performance is NPP’s worst – Bawumia compares ‘weak fundamentals’

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Vice President Dr. Mahamudu Bawumia has urged the opposition National Democratic Party (NDC) not to jump into conclusions that the free fall of the Ghana Cedi is as a result of weak fundamentals under the Akufo-Addo government.

He insisted that the NDC’s best performance under the John Mahama administration is the New Patriotic Party (NPP) government’s worst performance ever.

The Head of Government’s Economic Team made these comments at the Town Hall Meeting in Accra Wednesday, April 4, 2019.

According to Dr. Bawumia, faulting weak fundamentals for the cedi’s fall “defies logic” as there could be other external factors causing the exchange rate depreciation.

“For example, if your leg is broken you’re going to be unable to walk, then I’m somewhere and somebody comes to me and say ‘this person is unable to walk’ can I just conclude that the legs must be broken? There can be some other reasons why you’re unable to walk. But the NDC logic will insist in the face of contrary evidence that if you cannot walk then your leg must be broken,” he teases.

Taking Ghanaians back the memory lane, the Vice President indicated that in “2014 the exchange rate depreciated by 31.3 per cent. The fiscal deficit was 10.1 per cent of GDP. The public debt rose to 70.2 per cent of GDP. Inflation rose to 17 per cent and GDP growth had declined from 7.3 per cent to 4 per cent.

“The economic fundamentals had weakened significantly and, therefore, the depreciation was easily explained”

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