Prices of fuel, cement and others are falling – Dr. Bawumia touts government efforts

Vice President, Dr. Mahamudu Bawumia has asserted that the country’s economic recovery process is beginning to yield positive results.

He touted the progress to government’s measures which he believes have contributed to developments in macroeconomic stability adding that government remains committed to setting the country’s economy on the right path towards stability.

Dr Bawumia, who is also the Flagbearer of the New Patriotic Party ahead of the 2024 elections cited a price reduction in goods and services and a decline in inflation figures as key factors to the economic recovery progress.

Speaking at a National Thanksgiving service held at the NPP Headquarters in Accra, the Vice President said, “what is remarkable is that prices of items that we normally buy are falling, cement prices are falling, fuel prices have fallen, cooking oil prices are falling, iron rod prices, rice prices are falling, maize prices are falling and this is telling us that something is happening because normally we see increases but we are seeing a decline in pricing.”

Dr Bawumia also urged for concerted efforts aimed at easing living the conditions of the ordinary Ghanaian.

“We have to work extra hard to lessen the burden that crossed 2023 with us. We started the year with an inflation rate of 56. 3 percent in January. As we speak the rate for November is 26.4 percent. A significant drop and when you look at inflation, it has come down,” Dr Bawumia mentioned.

The Vice President however acknowledged the severe challenges imposed during the COVID-19 era which impacted on Ghana’s economy and the world at large.

“We are already aware that the post-Covid-19 era remains a difficult era in the history of the world and many countries across the globe are still recovering from the economic and social shock the pandemic created, Ghana has been no exception. As a party in power at such a difficult period in our global history, we can only thank God almighty for how far he has brought us,” Dr Bawumia said.

MA

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