By Joycelyn Adoma Arthur – 7/02/2024
Vice President Dr Mahamudu Bawumia has expressed optimism about the current state of the economy, stating that it is recovering from the crisis.
“Economic growth is rebounding, spending is under control” he said in his address on February 7 at the University of Professional Studies, Accra.
He highlighted that inflation has decreased from 54 percent to 23 percent in December 2023.
Addressing the performance of the Cedi, he said “The depreciation of the cedi under our government is lower than what we inherited from the 2013-2016”.
He acknowledged the impact of the Covid pandemic and the Russia-Ukraine war on global economies, including Ghana.
Despite the challenges inherited from the previous administration, Dr Bawumia emphasized that the Akufo-Addo government has successfully stabilized the economy, with all economic indicators showing positive trends.
The Vice President also commended the Bank of Ghana(BoG) for its support during the crisis and defended it against criticisms.
“The Bank of Ghana provided needed financing to the government at a critical moment. What the BoG did was very responsible in putting the interest of the