The South African National Democratic Congress Council of Elders Chair, Benjamin Quashie, has posited that Vice President Mahamudu Bawumia’s performance would go down in history as Ghana’s worst head of economic management team.
According to him, Dr. Bawumia had no right to request the late Vice President Amissah Arthur to provide answers to some questions about the economy when he was the running mate to the then NPP flagbearer, Nana Addo Dankwa Akufo-Addo.
Speaking on Happy FM’s Morning Show, the SA NDC Chair hinted that the economy of Ghana is performing poorly and this is an indictment on the Vice President and this is the reason why President Mahama’s 24-hour economy is a good proposal Ghanaians must embrace.
To buttress his point, he shared that “lending rates in 2016 were 8.3% but 14% in 2021. Again in 2016, the budget deficit was 6.1% but in 2020 it was 15.7%, expecting that in 2022 it would be 12%.
“The unemployment rate before we [NDC] exited office in 2016 stood at 8.4%, in 2021, the last one we had was 14%. If we don’t do things differently we will continue to get the same rates as has happened to almost all governments in the Fourth Republic,” he stated.
Regarding the above, Mr. Quashie believed that there needs to be a complete paradigm shift from the old way the economy has been operating all these years and this is where the 24-hour economy comes in handy.
According to him, while others, especially members of the ruling government have tried to pooh-pooh the policy, “the TUC has agreed upon it, CEOs’ Forum have agreed upon it, Austin Gamey has agreed upon it. Other people who know our economy is on the downward spiral have all agreed that the 24-hour economy can help make a difference.”
He added that the 24-hour economy would work on an 8-hour shift system.
“We’ve all traveled and we know how these things work. Why can’t we replicate the same in our country?” he quizzed.
“This is a game changer. It would ensure unemployment is reduced, ensure our economy grows and there is a whole blueprint to that effect,” he stated.
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