27th May 2024

Vice-President Mahamudu Bawumia

Vice-President Mahamudu Bawumia says the New Patriotic Party government under the leadership of President Nana Addo Dankwa Akufo-Addo will be going all out to ensure that it implements the second term vision of the President.

Parliament last week approved the 2021 budget.

Taking to his Facebook page, Dr Bawumia, who is also head of government’s economic management team, outlined some major first-term accomplishments of the Akufo-Addo government

“Dear Friends, as we look forward to the implementation of the 2021 budget in our second term, it is important that we take note of the accomplishments of the Nana Akufo-Addo government in our first term after inheriting an economy in crisis,” Dr Bawumia wrote on his Facebook page on Sunday.

Macroeconomic management

In terms of macroeconomic management, Dr Bawumia stated that the reduction of inflation from 15.4 per cent  in 2016 to 10.4 per cent at the end of 2020, reduction of average lending rates from 32 percent in 2016 to 21 per cent in 2020, the lowest average exchange rate depreciation for any first term government since 1992 at 7.3 per cent, increased internal reserves $6.1b in 2016 to 68.7b in 2020, upgraded sovereign credit rating from B- to B, among other economic gains.

In other sectors, the Vice-President also listed massive industrialisation success under 1D1F, increased food production through Planting for Food and Jobs, introduction of pension scheme for cocoa farmers, about 550,000 public employment opportunities, which included doctors, teachers, nurses, other health workers and police officers.

He also touched on government’s efforts at reducing the rate of debt accumulation per annum, from an average of 243 per cent per annum between 2012-2016 to an average of 137 per cent per annum between 2017 and 2020.

Challenges

The Vice-President, however, acknowledged some challenges facing the Ghanaian economy, especially the impact of COVID-19, and assured that the government will do its best to transform the Ghanaian economy for the benefit of all.

“Notwithstanding these solid achievements, there are still challenges facing the Ghanaian economy and Ghanaians following the impact of the COVID-19 pandemic and I look forward to working with President Akufo-Addo to address these challenges and deliver on his vision to transform and modernize the economy for the benefit of all Ghanaians in our second term,” Dr Bawumia wrote.

Other feats

Some of the achievements mentioned by the Vice-President included the establishment of the Ghana Integrated Aluminium Development Corporation (GIADEC) and the Ghana Integrated Iron and Steel Development Corporation (GIISDEC), both of which are progressing steadily.

The establishment of the Nation Builders Corps (NABCO) which provided employment to some 100,000 graduates and cumulative reduction of electricity tariffs for residential, business, and industrial consumers during the NPP’s first term.

“We have enrolled 15.5 million people on the biometric National ID card (Ghanacard) scheme. We have implemented a digital address system capturing every square inch of land or water in Ghana. Implemented the ground breaking Mobile Money interoperability (MMI) project. Ghana is the only country in the world that has thus far implemented our version of MMI.

“Ghana is currently the fastest growing mobile money market in Africa. Ghana has 36.9 million registered mobile money accounts,” he said.

“Ghana is the first country in the world to implement a Universal QR Code payment system that accommodates both bank accounts and mobile wallets. We have made it easy for people to renew their national health insurance membership on their phones without having to spend precious time in long queues,” he added.

Digitization

Dr Bawumia further said the government’s digitization has ensured that ECG customers can now easily buy pre-paid electricity units conveniently from wherever they are from their mobile phone.

He added that the online passport application processes are helping many people and making it easier to obtain a passport.

“Digitization at the port, elimination of long room, and streamlined inspections and enhanced enforcement has made it easier to clear goods and curbed corruption in the process.

“Following digitization at the Scholarship Secretariat, everyone is able to apply for scholarship and receive same in the comfort of his or her home via online applications. We have digitized our court system through the introduction of e-justice system to end the manual filing processes of Ghana Case Tracking System, electronic case tracking, Electronic case distribution system -fair, equitable and transparent distribution of cases,” he said.

 

About The Author

Leave a Reply

Your email address will not be published. Required fields are marked *