The achievements of the Akufo-Addo government in the past three years outstrip the performance of the entire tenure of the erstwhile Mahama-led administration, hence, comparing the two will be an exercise in mediocrity, Chairman of the Finance Committee of Parliament, Dr Mark Assibey-Yeboah, has stated.

Touting the achievements of the New Patriotic Party (NPP) government on Monday, 18 November 2019 at the commencement of parliamentary debate on the 2020 budget and economic policy statement presented by Finance Minister Ken Ofori-Atta last week, Dr Assibey-Yeboah explained that majority of the macroeconomic indices have improved.

“Mr Speaker, comparing ourselves to what the NDC did in 2016 will be an exercise in mediocrity,” the Member of Parliament (MP) for New Juaben South Constituency stated.

He articulated that inflation, which was 15.4% in 2016 under the NDC has been halved by the current administration with the current rate being 7.7%.

The new figure came about following the rebasing done by the Ghana Statistical Service (GSS) in August 2019 even though the inflation was within the NPP government’s target of 8 ± 2% before the introduction of the new series.

Dr Assibey-Yeboah highlighted how the Monetary Policy Rate was as high as 25.5% as of 21 November 2016 but currently pegged at 16%.

He also cited improved credit ratings by S&P, Fitch and Moody’s, which, he said: “Have given us an improved outlook”, which, he noted, the previous government fell short of achieving.

For him, the 3.4% under Mahama in 2016 is dwarfed by projections of “7% this year”, a figure, which, to him, is remarkable,r comparing the current growth rate of the country’s peers and what is happening in other emerging markets across the globe.

He said the government has reduced graduate unemployment with the introduction of the Nation Builders Corps (NaBCo), emphasising: “We used to have an association of unemployed graduates [but] that association is defunct.”

The economist said the shocks of the local currency have been controlled and the rate of depreciation against other major international currencies has been stabilized, thereby aiding businesses to thrive.

“The exchange rate has stabilised… the volatility that we saw under the NDC is no more. Mr Speaker, it is unattractive to hold the green buck, people are now moving into cedis,” he remarked.