The economy stronger than ever – Adu Boahen

Company News of Thursday, March 21, 2019

Source: citinewsroom.com

2019-03-21

The Ghanaian economy has become stronger under the Akufo-Addo government than under previous administrations.

This claim was made by Deputy Finance Minister Charles Adu Boahen at Thursday's Citi Breakfast Show.

"The question is: have the fundamentals changed? The answer is that the fundamentals are very strong. Our economy has not been as strong as we are today, "he said.

While the government believes that the economy is doing very well and is doing well, the opposition National Democratic Congress thinks the opposite.
The minority in Parliament on Wednesday called on the government to develop a new budget to preserve the economy from further shocks following the depreciation of the cedi.

But at the Citi Breakfast Show, Adu Boahen responded to the call: "I really think it's a bit premature to start talking about budget redistribution."

Cbadiel Ato Forson, minority spokeswoman in charge of finance, said that "the rapid decline in the value of the cedi has upset the economy and shows the forecasts that govern it as they appear in the budget. 2019 ".

He insisted that the current situation had undermined confidence in the economy and thus "sent bad signals to the investment community".

"This calls for urgent measures to be taken by the government to restore the economy. The starting point is that we should consider a new budget taking into account all the distortions and serious problems caused by the fall in the value of the cedi, "added Ato Forson.

Adu Boahen has already put in place measures to save the cedi.

"Last week, we have already seen a recovery in the currency of over 10%, so most of the losses have been recovered. And I believe that my minister was a prophet when he prophesied that in two weeks [time] the currency will be normal again. And we have already begun to witness the recovery, "he added.

The misfortunes of the Cedi

The recent depreciation of the cedi and its impact on livelihoods raises many concerns among the general public and the business community.

Since January 2019, the local currency has experienced some depreciation, rising from 4 cedis to 90 pesewas to more than 5 cedis against the dollar in recent years.

Traders and importers complained that the decline in Cedi value had a negative impact on their business.

Economy: Bawumia to inform Ghanaians on April 3

Mahamudu Bawumia, vice president, will inform Ghanaians of the state of the economy at a public meeting on April 3, 2019.

The theme of the conference will be "Our Progress, Our Status, Our Future" and will be held at the College of Physicians and Surgeons.