Stop "picking and harvesting" numbers on the economy – from Terkper to Bawumia

Company News on Tuesday, February 19, 2019

Source: starrfm.com.gh

2019-02-19

The former finance minister urged Vice President Mahamudu Bawumia to refrain from choosing and choosing his economic numbers for the country.

According to him, Mr. Bawumia, knowing that the context and scenarios of economic comparisons he makes between the NDC government and the current government are not the same, he continues to do so for political reasons.

"The vice president is a professional and so he should put things in context. We were facing a recession when we were in power. I've tried to show respect for the Veep's office, but he chooses and chooses. They made a compensation that they did not pay, they never postponed it. The government of nuclear power plants has made some offsets and is about to haunt them.

"We challenge the Veep to tell us how they compensated the 7 billion. The vice president made a mixture of old and new when they were in opposition. We see him doing the same thing in these times and I think he should stop him. The NPP government said they would not borrow, but what do we see today? More than 400 million are used to finance Free SHS and this affects the economy. The vice-president would do us good if he tells us where the oil revenues are going. The deficit that Bawumia is so proud of is the result of compensation. Compensation is biting and that is why entrepreneurs are not paid. He should tell us if the $ 7 billion is in GIFMIX archives before fighting to fight, "Terkper told Morning Starr's facilitator, Francis Abban, on Tuesday.

Many Ghanaians have expressed concern over the Cedi's increasing decline in major commercial currencies. Currently, one dollar has almost reached GHC6. The trade and import badociations deplored the situation and called on the government to tackle the problem immediately.

Responding to these concerns, the Vice President, who headed the economic management team, said the Cedi was always behaving better than under the Mahama administration.

"The Cedi exchange rate went from 1.1 to 4.2 in the dollar between 2008 and 2016. When we took office, the Cedi exchange rate was about 4.2 Cedis to the dollar. Today, if you look at the data from the Bank of Ghana, they are at 4.75 per cent of the dollar. It is therefore absolutely clear and irrefutable that we, as the government, are led by Nana Addo Dankwa Akufo-Addo and the management of the Ministry of Finance; and at the Bank of Ghana, it is clear that we have managed the exchange rate much better than our predecessors, "he said last September.