{"id":1183395,"date":"2022-08-18T22:35:07","date_gmt":"2022-08-18T22:35:07","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/08\/18\/bawumia-outlines-causes-of-economic-downturn-with-a-promise-to-fix-it\/"},"modified":"2022-08-18T22:35:07","modified_gmt":"2022-08-18T22:35:07","slug":"bawumia-outlines-causes-of-economic-downturn-with-a-promise-to-fix-it","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/08\/18\/bawumia-outlines-causes-of-economic-downturn-with-a-promise-to-fix-it\/","title":{"rendered":"Bawumia outlines causes of economic downturn with a promise to fix it"},"content":{"rendered":"<p><\/p>\n<div id=\"article-text\" style=\"line-height: 2; letter-spacing: -0.5px;font-size: 18px;\">\n<p>                        <!--p class=\"ky_saved_articles_link\"><span class=\"ky_saved_articles_hide\"><img decoding=\"async\" src=\"\" class=\"ky_saved_articles_img\" alt=\"Bawumia outlines causes of economic downturn with a promise to fix it\" title=\"Bawumia outlines causes of economic downturn with a promise to fix it\"><\/span> Bookmark<\/p-->\n<p>A few days after President Akufo-Addo\u2019s promise to revive and return Ghana\u2019s ailing economy to the path of economic growth, Vice President Dr. Mahamudu Bawumia has reiterated the point after outlining reasons why the once-promising economy has seen a downturn.<\/p>\n<p>Dr. Bawumia has, however, reassured the business community and the general public that the administration will not rest until such time that the economy begins to mirror pre-Covid19 numbers.<\/p>\n<p>The banking sector clean-up, Covid-19 outbreak, and ongoing Russia\u2019s special military operation in Ukraine derailed what the Vice President described as a promising economy but expressed the administration\u2019s determination to rescue the situation.<\/p>\n<div class=\"youtube-embed\" data-video_id=\"NOiwwQ5mwxU\"><iframe loading=\"lazy\" title=\"Depreciation of Cedi: Bawumia outlines factors he believes are pushing Ghana&#039;s economy out of gear\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/NOiwwQ5mwxU?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<p>Speaking at this year\u2019s Internal Audit Conference in Accra Tuesday, Dr. Bawumia outlined interventions that have been rolled out to inject confidence into the economy.<\/p>\n<p>This includes the 20% expenditure cut announced by government, and the strengthening of expenditure monitoring systems among others to help bring the economy back on track.<\/p>\n<p>The ongoing negotiation to secure a support programme with IMF and other interventions by the government are being undertaken to deal with the worrying depreciation of the Cedi in a bid to bring down inflation which has gone past the 30% mark, the worst in the last two decades.<\/p>\n<p>                <!-- Post Tags --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A few days after President Akufo-Addo\u2019s promise to revive and return Ghana\u2019s ailing economy to the path of economic growth, Vice President Dr. Mahamudu Bawumia has reiterated the point after outlining reasons why the once-promising economy has seen a downturn. Dr. Bawumia has, however, reassured the business community and the general public that the administration [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1182412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[187],"tags":[2032,11226,3010,9576,4982,1022],"class_list":["post-1183395","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics","tag-bawumia","tag-downturn","tag-economic","tag-fix","tag-outlines","tag-promise"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1183395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1183395"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1183395\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1183395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1183395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1183395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}