We have to give Dr. Bawumia some credit for the economy – Dr. Assibey-Yeboah

The Chairman of the Economic Sub-Committee of the New Patriotic Party, Dr. Mark Assibey-Yeboah, has noted that Vice President Dr. Mahamudu Bawumia deserves some applause for the turnaround of the economy.

According to him, when Ghana’s economy struggled, the government was proactive in getting it back on track.

He noted that the NPP government inherited a struggling economy but has been able to turn it around for the better.

“NPP inherited an economy which was already at the International Monetary Fund (IMF) because it was haemorrhaging. In the first three years, we brought the numbers down, and they were good. Then, when we talked about it, people said no, but COVID-19 struck,” he was quoted to have said on ChannelOne TV.

Dr. Assibey-Yeboah said that despite the devastating effects of COVID-19 on the economy, it has bounced back due to the intervention of the economic management team.

“So, 2017, 2018, 2019, the numbers were good. In 2020, COVID-19 struck. With global inflation all over the world, prices skyrocketed. And so, the inflation we are witnessing is not peculiar to Ghana—it’s all over. After COVID-19, when we lost our credit rating and couldn’t go to the capital market, it was a difficult period in 2021 and 2022.

“But what has happened after 2022, when inflation had gone to 54%, and our currency was depreciating everywhere? Now, I think the numbers are good; we have turned the corner. If I look at countries like Sri Lanka, Zambia, and others, and what we were able to do to keep the economy from tanking as it were, we have to give him some credit,” he added.

SSD/OGB

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