Dr Bawumia to speak on economy today

Vice President Dr Mahamudu Bawumia will on Thursday, April 07, speak on pertinent issues in Ghana’s economy, which is set on a recovery pathway following the impact of the COVID-19 pandemic.

The Vice President, who is the Head of the Economic Management Team, will be making a presentation on the economy as the main speaker at a National Tertiary Students Confederacy (TESCON) Training and Orientation Conference – a gathering of tertiary students of the student wing of the New Patriotic Party (NPP), at Kasoa in the Central region.

The event is under the auspices of the NPP Youth Wing in collaboration with the Danquah Institute, a policy Think-Tank.

In attendance will be the First Lady, Mrs Rebecca Akufo-Addo as the Special Guest of Honour, Mr Freddy Blay, the NPP Chairman and Mr John Boadu, the Party’s General Secretary, among others.

It is on the theme: “Our resolve, Our determination, Our commitment to the Sustained Growth of the NPP.”

Dr Bawumia’s presentation is expected to put to rest the apprehension of some Ghanaians over the perceived silence of the renowned economist on issues pertaining to the economy, especially at a time when the inflation rate has increased to 15.7 per cent- a similar rate when Ghana approached the IMF in 2015.

It will also be his first public presentation after the passage of the Electronic Levy by Parliament to shore up the government’s revenue to carry out developmental projects amid the depreciation of the cedi and rising public debt, which is at 80 per of Gross Domestic Product (GDP).

As part of austere measures, the government through the Ministry of Finance announced a 20 per cent cut in expenditure commitments within the first quarter for covered entities benefiting from the budget.

At the end of the first quarter, it further announced some expenditure cut measures including a reduction of discretionary spending by an additional 10 per cent and a 30 per cent salary cut for government ministers and appointees.