Bawumia said “We’ve revived Ghana’s economy” –1
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“Vice President Bawumia Touts Economic Revival in Ghana”
In his recent address to the nation on February 7, 2024, Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), underscored Ghana’s steady recovery from the economic challenges it faced. As he outlined his vision for the country, Dr. Bawumia acknowledged the turbulent times encountered between 2019 and 2022, particularly due to the disruptive impact of the COVID-19 pandemic.
Despite the daunting circumstances, Dr. Bawumia expressed confidence in the government’s ability to navigate through adversity and steer Ghana towards economic revitalization. He highlighted the strides made in revitalizing key sectors of the economy, signaling a promising trajectory for national development.
One of the pivotal aspects emphasized by Dr. Bawumia was the comparative analysis of Ghana’s economic performance under different administrations. He pointed out that while the COVID-19 pandemic posed unprecedented challenges, Ghana’s economic indicators, including GDP growth, agricultural and industrial expansion, demonstrated resilience and outperformed previous administrations.
Dr. Bawumia highlighted the significant improvement in GDP growth rates during the NPP’s tenure compared to the preceding years. Between 2013 and 2016, Ghana’s GDP growth averaged 3.9%, reflecting a period of moderate economic expansion. However, under the NPP government from 2017 to 2020, GDP growth increased to an average of 5.3%, signaling a notable uptick in economic momentum.
Despite the global economic slowdown induced by COVID-19 and external geopolitical tensions such as the Russia-Ukraine war, Ghana’s GDP growth remained relatively robust, averaging 4.9% between 2017 and 2022. Dr. Bawumia underscored the resilience of Ghana’s economy under the NPP’s stewardship, highlighting that even amidst global crises, economic growth outpaced the performance of previous administrations.
Furthermore, Dr. Bawumia emphasized the strides made in key sectors such as agriculture and industry. He noted significant advancements in agricultural productivity and industrial expansion, which contributed to Ghana’s overall economic resilience. These achievements underscored the government’s commitment to fostering sustainable economic development and creating opportunities for growth and prosperity.
In addition to economic growth, Dr. Bawumia emphasized the government’s efforts to maintain stability in key economic indicators such as trade balance, exchange rate stability, lending rates, and gross international reserves. These factors, coupled with sustained job creation initiatives, underscored the government’s multifaceted approach to promoting inclusive economic growth and fostering resilience in the face of external shocks.
As Ghana continues its journey towards economic recovery and prosperity, Dr. Bawumia reaffirmed the government’s unwavering commitment to prioritizing policies and initiatives that empower citizens, stimulate economic growth, and position Ghana as a beacon of progress and opportunity in the global arena.
In conclusion, Dr. Bawumia’s address highlighted Ghana’s resilience in the face of adversity and showcased the government’s proactive measures to navigate through turbulent times and foster sustainable economic development. Through steadfast leadership and strategic policymaking, Ghana stands poised to overcome challenges and chart a course towards a brighter, more prosperous future for all its citizens.
source : citinewsroom.com
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