Vice President Dr. Mahamudu Bawumia delved into the intricate narrative of the New Patriotic Party’s (NPP) economic journey, asserting their triumph over challenges inherited from the National Democratic Congress (NDC).
Highlighting the NPP administration’s efforts, Dr. Bawumia emphasised their successful steering of the economy back to stability, only to face an unforeseen disruption with the onset of the Covid-19 pandemic.
Despite their initial strides, the global health crisis brought about an abrupt standstill to economic activities, imposing an unparalleled strain on nations worldwide.
The Vice President candidly revealed that, despite persistent oversight, the impact of the Covid-19 pandemic and the Russia-Ukraine war cannot be ignored as significant contributors to the recent economic downturn.
Drawing parallels to the historic economic upheaval of the 1930s, he underscored that numerous countries experienced negative GDP growth due to these global events.
“We may be tired of hearing it but there is no denying of the fact that the Covid-19 pandemic and the Russia-Ukraine war resulted in the greatest economic depression in the world since the 1930’s with most countries recording negative GDP growth,” Dr. Bawumia stated during an address at the University of Professional Studies Auditorium(UPSA) in Accra.