President Nana Akufo-Addo says within four years, his government has been able to turn around the ailing Ghanaian economy he inherited for good.
He said this when he delivered his final State of the Nation address in Parliament on Tuesday, January 5, 2021.
This is the last State of the Nation address delivered by the President in his first term in office.
“The basic facts of our unhappy inheritance are well-documented – 15.4% rate of inflation; a 9.3% fiscal deficit; 32% rate of interest; a 3.4% rate of GDP growth, the lowest in two decades – all under an IMF-sponsored bailout programme.”
“We set to work quickly, and, I am glad to say that, we have been able to stabilize the economy, exit satisfactorily the IMF programme, and restore confidence in the economy.”
The President also noted that the confidence of the banking sector has also been boosted following the clean-up of the sector.
He further promised to implement a tight fiscal discipline in his next government which commences on January 7, 2021.
“Government will continue to implement prudent fiscal measures to quicken the pace of fiscal consolidation, and in March this year, the Minister of Finance will come to this august House to provide further details on the measures to be taken to restore our country back to the path of economic recovery”.