Deputy Communications Minister Felix Kwakye Ofosu says the longest ever period of sustained single digit inflation of 33 months under the NDC-administration cannot be erased as a monumental macro-economic achievement in the history of Ghana.
The opposition New Patriotic Party(NPP) in government, he said was only able to achieve a month of single digit inflation years back.
In a post on his Facebook wall, Kwakye Ofosu also said “Despite Bawumia’s bluster, the highest ever growth rate recorded in Ghana’s history of 14.4% was recorded under an NDC government. Their highest ever growth rate of 8.4% is still lower that the NDC’s second highest of 8.8%.”
The former Governor of the Central Bank told the Press in Accra Wednesday that the record after the seven main budgets of the NDC is definitely not one of a “Better Ghana” than the one this government inherited in 2009.
“In the eight years of the NDC government, the size of the economy would have increased from $28.5 billion in 2008 to a projected $39.4 billion in 2016 (with oil), a 52% increase compared to the 500% increase witnessed under the NPP (without oil),” Bawumia stated.
But Kwakye Ofosu strongly oppose to the arguments raised by the 2016 Running mate of the opposition NPP, describing as “hackneyed and pedestrian propaganda” made by him [Bawumia].