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Former President John Mahama has been ridiculed by NPP Vice President and Presidential Candidate Dr. Mahamudu Bawumia, who has exposed Mahama’s appalling performance across all economic indices.
During a fiery speech in Nungua, in the Greater Accra Region’s Krowor Constituency, Dr. Bawumia dismissed assertions made by former President Mahama on his Facebook page that the present NPP government is a failure.
In response, Dr. Bawumia criticized former President Mahama for failing to comprehend economic statistics, arguing that if he did, he wouldn’t be contrasting the NPP’s record with his “failed government” when all available economic data demonstrated the NPP’s superior performance.
“He said he has performed better than us and I said if you believe you performed better, come for a debate. But he has run away” Dr. Bawumia said.
“I hear he has written on his Facebook that NPP is a failed government. Then I said maybe he doesn’t understand the economy. He either does not read the data or he does not understand the data. He doesn’t understand,” Dr. Bawumia said, as he launched a fiery counter response on all economic indicators.
“I want him and those around him to listen to me this evening so I explain the data to them, so that they will get an understanding. Let me tell him that when it comes to the economy, over all GDP during your government, is lower than ours. We have performed better than you,” added the Vice President.
“When it comes to the economy in terms of agriculture growth, we have performed better than you. In terms of industry growth, we have performed better than you. In terms of budget deficit to GDP, we have performed better than you. The primary balance, we have performed better than you. The trade balance, we have performed better than you. The current account balance, we have performed better than you. Gross international reserves, we have performed better than you.”
Amid thunderous applause from the audience, Dr. Bawumia went on to discuss the currency rate, stating that the pace of depreciation is a good indicator of performance.
Regarding this, he stated that while if the current government, like all governments, has been impacted by the global economic crisis, its record of exchange rate depreciation is superior to that of Mahama’s administration, which was spared from dealing with the issue.
”let me tell you about the exchange rate. I want them to listen because they don’t understand,” Dr. Bawumia said.
“When it comes to the exchabge rate, we measure performance by the rate of depreciation. So if you look at the NDC period of 8 years, the rate of depreciation was 74% without a global crisis. No covid crisis. No Russia-Ukraine war. No global economic recession.”
“Under the NPP, as at today, after 8 years in office with a global economic crisis and with covid pandemic, we have depreciated the cedi by 72% which is lower than their depreciation. So if they say that we have mismanaged the cedi, then they mismanaged it worse than we have, without a crisis.”
Source: Ghanatodayonline.com
