President Nana Addo Dankwa Akufo-Addo has reiterated his government’s dedication to strengthening the ailing economy of Ghana. He emphasized that his administration is working diligently to restore the economy to a healthy state.
In recent times, the economy has experienced a downturn characterized by soaring prices of goods and services, an unsustainable debt burden, and a volatile currency. As a result, the government sought a $3 million bailout from the International Monetary Fund (IMF).
Speaking during the Eid-Ul-Adha celebration, President Akufo-Addo attributed the stability in petroleum product prices and the local currency to a reduction in inflation. He stood by his previous statement that while it may be challenging to bring back lives during the COVID-19 pandemic, restoring the economy is within their capabilities. He expressed confidence that the government’s efforts will lead to a full recovery.
The President highlighted recent positive developments such as currency stability and the Gold for Oil Programme, which have contributed to reducing inflation. He assured the public that things are improving and will continue to do so.
President Akufo-Addo reaffirmed his commitment to implementing policies such as the 1-District-1-Factory initiative, Planting for Food and Jobs program, and Free Senior High School education. He mentioned the government’s achievements in providing essential services such as uninterrupted electricity supply, drone delivery of medicines to remote areas, and the establishment of the Zongo Development Fund. He also emphasized the ongoing infrastructure development, including road construction and repairs.
The President stated that the government’s dedication and commitment enabled them to secure an IMF program in a remarkably short period. He pointed out that despite the challenges, Ghana’s economy grew by 4.2 percent in the first quarter of 2023, indicating positive progress.
Source – citinewsroom.com
