A Deputy Finance Minister, Fifi Kwetey has rubbished Dr Mahamudu Bawumia’s critique on the state of the economy, describing it as a desperate attempt to save Nana Akufo-Addo’s campaign.
He said the NDC’s prudent economic management resuscitated the ‘intensive care’ economy it inherited from the then ruling New Patriotic Party.
“We brought the economy from the brink of collapse to unprecedented economic growth… we found ways of managing 38 trillion cedis debt the NPP left behind”, he said.
Dr. Bawumia, a former Deputy Central Bank boss on Wednesday pointed out a number of loopholes in the Ghanaian economy, questioning gains the NDC claims to have made over the four year period.
He told the annual Ferdinand Ayim Memorial Lectures in Accra, government has done little to arrest the free-fall of the cedi and that many investors have lost confidence in the economy.
But speaking on Joy News Television’s political discussion programme, Majority Caucus, the Deputy Minister accused Dr. Bawumia of attempting to discredit figures from the Ghana Statistical Service.
“Why should Dr. Bawumia doubt figures from the Ghana Statistical Service when he heavily depended on it as Deputy Governor of the Bank of Ghana”, he questioned.
He blamed the current depreciation of the cedi on what he describes as “reckless” management of the redenomination exercise by the NPP administration.