Minister for Trade and Industry, Mr Alan Kyeremanteng, has touted the New Patriotic Party (NPP) government economic achievements, saying that the Akufo-Addo-Bawumia administration is managing the economy better than the erstwhile Mahama-Amissah-Arthur government.
Speaking in an interview with Journalists after the President delivered his state of the nation address in Parliament, Mr Kyeremanteng indicated that, the economic fundamental of the country has never been strong as being experienced currently.
This was a quick response in defence of Vice President Dr Mahmud Bawumia's campaign claims that weak economic fundamentals exposed the previous government.
Mr Kyeremanteng said the government’s efforts in making the economy more resilient has resulted in the strong fundamentals.
The Minister said the economy that was growing at 3.4% at the end of 2016, within a period of two years was moved from 3.4 to 8.1 per cent, adding that, it is not for nothing that Ghana has been touted as one of the fastest growing economy in the world.
“To turn the economy around from 3.4 per cent to 8.1 is phenomenal. Also 2017 to 2018, the current estimates indicate that we are being able to close at least 7.6 per cent for 2019," he stated.
Commenting on the Budget deficit, the Minister said, budget deficit at the time when the NPP government took over from the previous regime was over 7.3 per cent and if the rebase value is used, it will be 3.7 per cent.
According to him, the government was able to bring it down to 3.9 per cent which is a major indicator of how strong the economy is.
“Inflation at end of 2016 was 15.4, now it is 9.1 and what we are gathering is that within 2019 it will further reduce,” he said.
He also talked about Ghana having a trade surplus, which is very unusual of a country on International Monetary Fund (IMF) programme.
On the depreciation of the cedi, Mr Kyeremanteng assured that the government is working to stabilize the currency including the promotion of export and increasing the level of forex reserve.
He entreated Ghanaians to continue to have trust in the Akufo Addo government, as he is working hard to provide a good living for all Ghanaians as promised.
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