Vice President Dr. Mahamudu Bawumia says despite a rise in debt level in the country, the government of the day has managed the economy better than the NDC administration.
He says as a result of prudent management of the economy by government, inflation and exchange rates have gone down despite rising debt.
“I want to let you think about one thing; you hear the NDC saying, the debt level has gone up. Sure, the debt level has gone up, but economic levels have not gone down. The debt level has increased yes, but why do we want to maintain prudent debt level? the Vice President stated while speaking at TESCON conference on 7th August 2021 in Cape Coast.
He made this comment while reacting to constant criticism from the opposition NDC that the government has managed the economy poorly.
Not only did the Vice President say the current government has managed the economy well but it apportioned blame on NDC for taking Ghana to HIPC.
“When the NDC was in government, well way before, they took us to HIPC. They had mismanaged the debt levels such that we had very high inflation, very high exchange rate depreciation, very high interest rate and low growth. That was the legacy they left us.”
He added that heading towards 2016 the debt levels had increased with inflations going up, exchange rate going up and exchange rate depreciating.