Single Digit Inflation Has Transformed Lives - Veep Amissah Arthur

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Created on Thursday, 25 October 2012 00:00

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Single Digit Inflation Has Transformed Lives - Veep Amissah Arthur

24 October 2012

Vice President, Paa Kwesi Amissah-Arthur says the country’s single digit inflation has transformed the lives of many Ghanaians.

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According to him, those who are questioning the impact of the single digit on living standards are only being pessimistic.

Addressing students and faculty members of the University for Development Studies in Tamale on Monday, Vice President Amissah-Arthur emphasized that the government has reduced inflation from more than 20 percent in 2009 to 9.5 percent in June 2012.

According to the vice president, he went to the BoG in October 2009 when inflation was sky-rocketing and “by June 2010, inflation was down to less than 9.5 per cent and it has stayed below 10 percent for 28 months. Never in the history of this country have we had low inflation like this.”

He said the NPP is only chastising the NDC because the former failed to achieve such a feat during their time, insisting that all the accusations that the basket for calculating inflation is being tweaked by the government for political expediency “are not true.”

The Vice President also expressed satisfaction that the cedi has stabilized to the dollar after resuming alarming depreciation in May.

Source: GNA/Ghana