GhArticles.com Every News in Detail
At a recent National Thanksgiving service held at the New Patriotic Party (NPP) Headquarters in Accra, Dr. Mahamudu Bawumia, the Flagbearer of the NPP, lauded the government’s economic strategies, citing a significant decline in inflation and the reduction in prices of essential goods and services as evidence of Ghana’s economic stabilization.
Dr. Bawumia emphasized the positive impact of recent government initiatives on macroeconomic stability, highlighting the noteworthy decrease in inflation rates and the resulting fall in prices of various essential commodities. He expressed optimism about Ghana’s economic trajectory despite the challenges posed by the global post-Covid-19 era.
Addressing the attendees, Dr. Bawumia acknowledged the formidable obstacles presented by the pandemic’s aftermath, praising Ghana’s resilience in the face of economic and social shocks. He urged concerted efforts to alleviate burdens carried into the year 2023, expressing gratitude for the progress made thus far and attributing it to divine intervention.
The Flagbearer emphasized the need for sustained efforts to mitigate the challenges arising from the post-pandemic era. He outlined the remarkable achievements, stating, “We started the year with an inflation rate of 56.3 percent in January. As of November, the rate has decreased significantly to 26.4 percent.”
Highlighting specific economic indicators, Dr. Bawumia noted, “What is remarkable is that prices of commonly purchased items are on the decline. Cement prices, fuel prices, cooking oil prices, iron rod prices, rice prices, and maize prices have all seen a downward trend. This trend signals positive economic development as opposed to the usual price increments we witness.”
