Dr. Mahamudu Bawumia, Vice President and Flagbearer of the New Patriotic Party (NPP), has stated that recent government initiatives have played a critical role in achieving macroeconomic stability.
Dr. Bawumia emphasized the significant reduction in inflation and the reduction in the pricing of goods and services as strong indicators of the government’s commitment to rejuvenating the Ghanaian economy.
Dr. Bawumia expressed hope about the economy today at a National Thanksgiving service held at the NPP Headquarters in Accra. Despite the global post-Covid-19 issues, he emphasized Ghana’s resilience in the face of economic and social upheavals.
Recognizing the worldwide challenges posed by the epidemic, Dr. Bawumia emphasized the importance of collaborative efforts to ease the burdens carried into 2023. He thanked God for the accomplishments and reiterated the government’s commitment to continued progress.
“We are already aware that the post-Covid-19 era remains a difficult period in world history, and many countries around the world are still recovering from the economic and social shock caused by the pandemic.” Ghana was no exception. We can only thank God Almighty for how far he has taken us as a party in power during such a terrible moment in our global history.”
“We have to work extra hard to lessen the burden that crossed 2023 with us,” Dr. Bawumia said of specific economic achievements. In January, we began the year with an inflation rate of 56.3 percent. As we speak, the November rate is 26.4 percent, a huge decrease. When it comes to inflation, it has decreased.”
He also mentioned price decreases in critical products such as cement, petrol, cooking oil, iron rods, rice, and maize, claiming that these patterns indicates significant economic progress.