Web Master
The Akufo-Addo administration managed the local currency, the Cedi, well compared to what the John Mahama-led National Democratic Congress (NDC) did, the National Chairman of the New Patriotic Party (NPP) Stephen Ayesu Ntim, has said.
He said prior to the Covid pandemic and the Russia-Ukraine war, the currency was performing better.
Addressing a press conference in Accra on Tuesday, April 4 to respond to an earlier address by the National Chair of the NDC Johnson Asiedu Nketia who accused the NPP government of economic failure, Mr Ntim indicated that the Akufo-Addo administration he also indicated that the government is not happy with the level of the inflation rate.
The Ghana Statistical Service (GSS) announced on Wednesday, March 15 that the inflation for the month of February 2023 was 52.8%, a drop from the 53.6 recorded in January 2023.
Five divisions recorded inflation rates higher than the average.
They are Transport (70.3%); Furnishings, Household Equipment (69.8%); Housing, Water, Electricity, Gas and Other Fuels (69.6%); Personal care, Social Protection and Miscellaneous Services (62.5%) and Food and non-Alcoholic Beverages (59.5%).
Mr Ntim said “After inheriting a booming economy. Ex-President Mahama and NDC left their successor, President Akufo-Addo a collapsed economy in 2016.”
He added “We managed the Cedi better before the pandemic and the war. The NPP managed the Cedi with an average depreciation of 6.8 percent from 2017 to 2021 compared to the NDC’s record of 18 percent average depreciation from 2013 to 2016.
