Minister for Inner City and Zongo Development and the former minister for information, Dr. Mustapha Abdul-Hamid has prayed to the Almighty Allah to keep the National Democratic Congress (NDC) in opposition because, in his view, the party has no good intentions for Ghanaians.
He made this request to the Almighty in his closing prayer during the Nation Builders Update session which was addressed by Vice President Dr. Mahamudu Bawumia on Thursday, November 26.
“Let the NDC remain in opposition in this year’s elections,” he prayed.
Vice President Dr. Bawumia told the gathering that the Akufo-Addo administration has stabilised the economy with prudent measures.
He said “We have stabilised and grown the economy. Prior to the Coronavirus pandemic which has impacted all economies in the world, we stabilised the economy. We reduced inflation; doubled economic growth in our first three years; reduced the rate of exchange rate depreciation.”
“The exchange rate depreciation has stabilized with Ghana recording the lowest rate of depreciation in the last 28 years, notwithstanding the pandemic and the election this year. The average depreciation over the last four years (7.3%) is the lowest for any first-term government since 1992.”
“Reduced the fiscal deficit (pre-COVID-19); improved our external payments position which is stronger today than it was in 2016 (notwithstanding the pandemic); Interest rates are on the decline in line with declining inflation expectations; We have cleaned up the mess in the financial sector that we inherited. We took decisive decisions to avoid the collapse of the financial sector, save the deposits of 4.6 million depositors, and save jobs.
“Thus far, the government has spent GH¢21 billion to clean up the sector. 99% of depositors of the affected banks, microfinance, and savings and loans companies have been fully settled.”
“In addition to this, the government on compassionate grounds has decided to pay up to GHC50,000 to all customers of affected Fund Management Companies while the liquidation processes continue. Based on the validated claims, this partial bailout would result in 89% of the affected individuals being fully settled.”
Source: 3 News