{"id":11770,"date":"2018-09-19T16:25:56","date_gmt":"2018-09-19T16:25:56","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=11770"},"modified":"2018-09-19T16:25:56","modified_gmt":"2018-09-19T16:25:56","slug":"economy-is-in-good-hands-were-steering-it-well-bawumia","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=11770","title":{"rendered":"Economy is in good hands; we\u2019re steering it well \u2013 Bawumia"},"content":{"rendered":"<figure id=\"attachment_8425\" aria-describedby=\"caption-attachment-8425\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-8425\" src=\"https:\/\/www.kumasionlinegh.com\/wp-content\/uploads\/2018\/06\/Dr-Mahamudu-Bawumia.jpg\" alt=\"\" width=\"640\" height=\"480\" srcset=\"https:\/\/www.kumasionlinetv.com\/wp-content\/uploads\/2018\/06\/Dr-Mahamudu-Bawumia.jpg 640w, https:\/\/www.kumasionlinetv.com\/wp-content\/uploads\/2018\/06\/Dr-Mahamudu-Bawumia-400x300.jpg 400w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><figcaption id=\"caption-attachment-8425\" class=\"wp-caption-text\">Vice President Dr Mahamudu Bawumia<\/figcaption><\/figure>\n<p>The Vice President, Dr. Mahamudu Bawumia, says Ghana\u2019s economy is in good hands and is being steered in the right direction for growth.<\/p>\n<p>He thus advised Ghanaians to ignore naysayers who believe the economy is on a downward trend instead.<\/p>\n<p>\u201cBe reassured that this economy is in good hands. We are not where we want to be, but we believe that we are on course. But as all good sailors know, rough and turbulent seas are no indication that you are not steering well,\u201d he said.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/7oLvTE1EQzc\" width=\"706\" height=\"397\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><br \/>\nDr. Bawumia made these remarks when he was speaking at the Ghana Industrial Summit and Exhibition in Accra on Tuesday.<\/p>\n<p>He also touched on the Standard and Poor\u2019s upgrade of Ghana\u2019s economic rating from B- to B, saying it is an indication that the country\u2019s fundamentals are strong.<\/p>\n<p>\u201cOur recent ratings by\u00a0<a href=\"https:\/\/citinewsroom.com\/2018\/09\/15\/sp-raises-ghanas-economic-rating-to-b\/\"><strong>Standard and Poor\u2019s<\/strong><\/a>\u00a0agency from B- to a solid B with a stable outlook is a confirmation that we are building fundamentals of the economy in the right direction. If you listen to the critics you will miss the following facts about the economy. That the economic growth has more than doubled from its 2016 level from 3.7% to 8.5%, that the agricultural growth is trending upward and industry growth rose from a negative half a percent to 17.7% at the end of 2017,\u201d he added.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/LLXOYCMkfIU\" width=\"706\" height=\"397\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><br \/>\nThe Vice President said inflation has reduced to 9.9% and the treasury bill rates have declined tremendously.<\/p>\n<p>He also said the country\u2019s debt to GDP ratio has also declined from 73% to 64.4%.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/-JfrRIkd53U\" width=\"706\" height=\"397\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><br \/>\n\u201cInflation continues to decline just slightly below 10% at 9.9%. The interest rate of the 91-day treasury bills are also on the decline. Our trade position has strengthened significantly and our gross international reserves now cover 3.9 months of imports. The debt to GDP ratio has declined from 73% in 2016 to 64.4% in June 2018. We are striving for a low and stable inflation rate,\u201d he added.<\/p>\n<p><strong>\u2018NPP riding on our solid economic foundation\u2019 \u2013 Kwakye Ofosu<\/strong><\/p>\n<p>Meanwhile, a former Deputy Information Minister, Felix Kwakye Ofosu, said the governing New Patriotic Party (NPP), should be grateful to the Mahama administration for the role they played in laying a solid foundation which the Akufo-Addo government is riding on.<\/p>\n<p>He in an interview with citinewsroom.com insisted that the National Democratic Congress (NDC) did not hand over a messed-up economy to the NPP as has been suggested.<\/p>\n<p>\u201cFrom the evidence of what we have seen, it does not appear that the NPP has any magic wand to turn things around. Contrary to their claim that they inherited a mess or the current poor performance is on account of what they inherited, I will argue that it was the foundation that was laid by the NDC government that has resulted in the attainment of some of the figures they are throwing about,\u201d he added.<\/p>\n<p><strong>\u2018US dollar getting stronger against cedi; but our economy is growing\u2019 \u2013 Bawumia<\/strong><\/p>\n<p>The Vice President recently allayed fears that Ghana\u2019s economy could crumble as a result of the gradual depreciation of the cedi against the US dollar.<\/p>\n<p>Some economists, members of the opposition National Democratic Congress (NDC) and many Ghanaians, have criticized government for failing to fix the cedi\u2019s fall, and also deal with its general impact on the larger economy.<\/p>\n<p>But Dr. Bawumia largely blamed the\u00a0<strong><a href=\"https:\/\/citinewsroom.com\/2018\/09\/14\/us-dollar-getting-stronger-against-cedi-but-our-economy-is-growing-bawumia\/\">cedi\u2019s depreciation on the strength of the US dollar<\/a><\/strong>, saying other currencies like the pounds were also struggling against the US dollar.<\/p>\n<p>He said the NDC lacks the moral authority to accuse the NPP government of delaying in fixing the \u201cTattered economy\u201d they inherited from them.<\/p>\n<p>\u2013<\/p>\n<p>Source : Citinewsroom.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Vice President, Dr. Mahamudu Bawumia, says Ghana\u2019s economy is in good hands and is being steered in the right direction for growth. He thus advised Ghanaians to ignore naysayers who believe the economy is on a downward trend instead. \u201cBe reassured that this economy is in good hands. We are not where we want [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"iawp_total_views":0,"footnotes":""},"categories":[40],"tags":[],"class_list":["post-11770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Economy is in good hands; we\u2019re steering it well \u2013 Bawumia - Kumasi Online TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kumasionlinetv.com\/?p=11770\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy is in good hands; we\u2019re steering it well \u2013 Bawumia - Kumasi Online TV\" \/>\n<meta property=\"og:description\" content=\"The Vice President, Dr. Mahamudu Bawumia, says Ghana\u2019s economy is in good hands and is being steered in the right direction for growth. He thus advised Ghanaians to ignore naysayers who believe the economy is on a downward trend instead. \u201cBe reassured that this economy is in good hands. We are not where we want [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.kumasionlinetv.com\/?p=11770\" \/>\n<meta property=\"og:site_name\" content=\"Kumasi Online TV\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-19T16:25:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.kumasionlinetv.com\/wp-content\/uploads\/2018\/06\/Dr-Mahamudu-Bawumia.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kumasi Online\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kumasi Online\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/?p=11770#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/?p=11770\"},\"author\":{\"name\":\"Kumasi Online\",\"@id\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/#\\\/schema\\\/person\\\/71129f20b230eb698b6e82454423d7de\"},\"headline\":\"Economy is in good hands; 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