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Government will not be forced into taking any decisions that will have dire consequences on Ghana’s economy, Vice President, Dr. Mahamadu Bawumia has said.
Dr. Bawumia said government is on course to address the country’s economic challenges, but will not be forced to take any political decisions.
READ ALSO: Economic Challenges: Ghanaians living in difficulty – Nana Addo admits
Speaking at the opening of the National Policy Fair in Tamale on Monday, the Vice President said government is on the right track and will soon address the depreciation of the cedi.
“We will continue to stick to fiscal discipline and market determination of exchange rates. We will not be forced by these external shocks into taking politically expedient but economically unsustainable decisions. We know we are on the right track and we are going to stay the course because we have to look at the long-term interest of Ghana and not the short-term political expediency,” he said.
A section of the public has been unhappy with the current state of the economy, as the price of fuel has risen to as high as GHc5 per litre.
Also, the cedi continues to depreciate against the US Dollar – at the moment the Dollar is almost equivalent to GHc5.
READ ALSO: Donor Support: ‘Ghana can’t just get up and say no to aid’ – Kufour
However, the Vice President assured that the economy “is in good hands” despite its current challenges.
“Be reassured that this economy is in good hands. We are not where we want to be, but we believe that we are on course. But as all good sailors know, rough and turbulent seas are no indication that you are not steering well,” Bawumia remarked.
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