We’ll get economy back on track – Bawumia

Vice President Dr. Mahamudu Bawumia says government will work to fix the economy from the ravages of COVID-19.

“In the coming year, we will continue to strive to get the economy back on track from the shackles of COVID-19,” the Vice President made the comment when he met some Muslims in Accra on Monday.

He added, “We are also committed to our inclusive governance of the past five years, which has seen us invest in education and other sectors of the country”.

The comments come on the back of the Facebook exchanges between former deputy Finance Minister Cassiel Ato Forson and the current deputy Finance Minister John Kumah over the outlook of the economy for the year 2022.

“Please Expect Prices of Goods such as Rice, Sugar, pharmaceuticals, cement, roofing sheets to go up by at least 30% effective today. The multiplicity of taxes and Levies to take effect by End of January 2022. Interest rates likely to go up again.

“Government will be borrowing heavily from the domestic market since the Euro bond market is closed to Ghana for, at least, the first half of 2022,” the MP reiterated.

Reacting to the comment, the current deputy Finance Minister said: “Often, you expect those who are well-informed about development in this economy to speak the truth backed by facts. It is unfathomable to think that a former Deputy Minister of Finance could be this pessimistic, speculative and propagandist on important issues concerning the economy of Ghana. It is therefore important, I state categorically, that all the speculations by Hon. Ato Forson are his own creation and are not supported by data."

“Indeed, the economy is expected to grow at 4.9% even with ravaging COVID-19. The government is turning around the economy back to the era of high growth before COVID-19 pandemic came to our shores,” he stated.