NewzNational Chairman of the NDC, Johnson Asiedu Nketiah, says the government has laid the foundation for economic growth and job creation by stabilising key areas of the economy. He said the progress made so far under the NDC administration gives him confidence that the party can maintain its political momentum and retain power. Speaking on JoyNews’ PM Express on Tuesday, Mr Asiedu Nketiah said he is satisfied with the government’s performance since assuming office.
“I’m happy about what we have been able to achieve so far. I’m praying that we should be able to maintain the pace, or even improve from what we have done, and it will not be difficult for us to retain the seat,” he said. According to him, the biggest achievement so far has been the improvement in the economic fundamentals, which he described as the foundation for any meaningful development.
“The fundamentals in the economy, because the stabilisation in the economy is the key prerequisite for you to achieve anything,” he said. He argued that without a stable economy, efforts to create jobs and expand businesses would be difficult. “If the economy is not stabilised the way we have tried to do, you can’t do anything.” Mr Asiedu Nketiah said the government has made progress in controlling the depreciation of the cedi, reducing inflation and improving other key economic indicators.
“So we’ve gotten control over the depreciation of the cedi, we’ve gotten control over the inflation rate, and then these two key parameters, and then our debt-to-GDP ratios, our recurrent expenditure versus total expenditure, and all the key indicators are pointing to the right direction.” He explained that economic stability is critical because businesses require access to affordable capital to expand and create employment opportunities. He said lower inflation allows for lower interest rates, which makes it easier for businesses to borrow, invest and grow. “Once you have a low inflation rate, you are able to fix a lower bank rate and lending rate and all that, and then you can take money and invest, and then make profit.” He added that profitable businesses are better positioned to expand their operations and employ more people.
“And the more businesses make profit, the more they are able to expand and create jobs, and so on.” The NDC Chairman said the government’s focus on economic fundamentals is the first step towards a… National Chairman of the NDC, Johnson Asiedu Nketiah, says the party will have little difficulty retaining power in the next general election if the government maintains its current pace of work. Speaking on JoyNews’ PM Express on Tuesday, he said he was satisfied with the progress made by the government so far and expressed confidence that continued improvements would strengthen the NDC’s chances.
The NDC chairman identified economic stabilisation as the key achievement that gives him confidence about the government’s performance. He said controlling major economic indicators is critical because it lays the foundation for growth, investment, and job creation. According to him, the government has made progress in managing the depreciation of the cedi, inflation and other important economic indicators.
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