According to him, the economy has become stronger under the current government than under previous administrations.

Speaking to Accra-based Citi FM, Mr. Adu Boahen maintained that the fundamentals of the economy are “very strong.”

“The question here is, has the fundamentals changed? The answer is that the fundamentals are very strong. We haven’t had a stronger economy than what we see today in a long time,” he said.

Deputy Finance Minister, Charles Adu Boahen
Deputy Finance Minister, Charles Adu Boahen

His comments are, however, in sharp contrast to the views held by the opposition National Democratic Congress (NDC).

The Minority in Parliament has particularly been critical of the government over the fast depreciation of the cedi.

They have also called for a new budget to be drafted to save the economy and to return it to stability.

Responding to this, the Deputy Finance Minister’s said the Minority’s call is premature, adding that government has already put measures in place to rescue the cedi.

“I really believe that it is a bit premature to start talking about redoing the budget,” Mr. Adu Boahen said.

“Already we’ve seen in the last week recovery of the currency by over ten per cent so most of the losses have been regained. And I believe that my Minister was being a prophet when he prophesized that in two weeks [time] the currency will be back to normal. And we have already started seeing the recovery,” he added.

Meanwhile, the cedi has continued to fall since the turn of the year from GHc 4.9 to over GHc 5.5 per US dollar.

However, the currency experienced a marginal appreciation this week, selling at GH¢5.3 to the dollar on Tuesday.