The President of the Republic, Nana Addo Dankwa Akufo-Addo, says his government has succeeded in turning around the fundamentals of Ghana’s economy, which he inherited from the Mahama administration, ensuring that, currently, all the fundamentals are pointing in the right direction.
According to President Akufo-Addo, “we inherited a situation with a large fiscal deficit, which has been turned around now; considerable imbalances in the way in which our economy was being run have also been turned around; a 15.4% inflation is today at 7.6%, the lowest in two decades. These are the building blocks for us.”
The consequences of this turnaround, he explained, have been that, "in these three years, we have had one of the fastest growing economies not just on the continent, but also in the world, with this year being a 7.6% growth. It has been consistent over these last three years.”
The President made this known on Monday, 11th November, 2019, when he spoke, as part of a panel including President Cyril Ramaphosa of South Africa and President Paul Kagame of Rwanda, at the African Investment Forum’s “Invest in Africa’s Space” event, currently ongoing in Johannesburg, South Africa.
Reiterating his determination to maintain fiscal discipline, in the management of Ghana’s public finances, President Akufo-Addo stated that “this has been our major objective, and so far so good we are realizing this.”
Despite 2020 being an election year, which in subsequent years has been characterized by excessive budgetary overruns, the President told the Forum made up of investors from across the world that “we are resisting the temptation, in an election year, to turn on the tap, hoping that the work we have done will take us through, without having to do that.”
Touching on the development of infrastructure on the continent and in Ghana, he stated that his Government is paying a lot of attention to the development of the country’s roads, railways, and airport infrastructure.
“In fact, last year, an important initiative launched, which is bearing fruit, is the Accra SkyTrain project in which South African investors are taking a very keen interest. We are hoping that we would be able to advance that concept this year,” he said.
The President added that the transformation of Ghanaian agriculture is one his government has been focused on since assuming office in January 2017, resulting in the institution of the programme for Planting for Food and Jobs, which has seen a revival of Ghanaian agriculture.
“Planting for Food and Jobs has proven to be a spectacular success. First of all, in the way it is addressing the availability of food stuffs. We are now in the position, for the first time in over a decade, of exporting food stuffs to our neighbours. We are very keen in developing private sector interest, because Ghanaian agriculture is largely smallholder,” he added.
On the exploitation of Ghana’s considerable mineral resources, President Akufo-Addo told the gathering that Ghana is keen on adding value to these resources, and desisting from exporting them in their raw form, adding that “we are now trying to forge the policies to make it possible for these to be the subjects of investments.”
Source: Peacefmonline.com
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YOU SEE THE FOOLISHNESS OF SOME GHANAIANS, WHAT DO YOU NO ABOUT INVESTMENT, WHO REGULATES THE CAPITAL MARKET IN GHANA. YOU BUY 2GH CREDIT AND START FOOLING ON INTERNET. IF IS NOT THE GOVERNMENT WHO DO YOU WANT US TO BLAME FOR THIS COLLAPSED OF THE FUND MANAGEMENT COMPANIES.THESE COMPANIES ARE PROPERLY REGULATED BY A GOVERNMENT INSTITUTION NOT MENSGOLD. WE FOLLOWED A PROPER PROCEDURE BEFORE INVESTING SO WE HAVE EVERY RIGHT TO BLAME THEM WHAT WAS SEC DOING TO SUPPER VICE THESE COMPANY.WHY SHOULD SEC TELL US NOW THAT THEY ARE UNDER RESOURCED SO THEY COULDN'T SUPERVISE ALL OF THEM. PLEASE IF YOU DON'T NO WHAT IS GOING ON KEEP QUITE AND STOP FOOLING.
THIS economy is certainly better than it was three years ago. International rating agencies are not members of this government. I think the NPP can do more, based on its own standards. But we should not bring in the NDC when matters of the economy are being discussed. Why, were we not in this country only 3 years ago? Let Ghana make a mistake and bring in the NDC! That is when all hope will be lost for the next generation! Think about it - we're a year to the next election and yet we don't hear the opposition expousing any policy position. And compare that to 2013, 14, and 15 when the NPP was in opposition. Can't we read between the lines, people? NDC is not good for Ghana lah!
Nana please stop lying to yourself.Don't listen to the people around you.They are lying to you.
Which investments are you talking of. Has the President collected your money? Is your money in the President's pocket? Let us have our peace of mind and think of the better things Nana Addo is doing.
The more i hear you talking i fell like crashing your head, please Mr president stop lying and pay our investment it our life saving money.why? do you want us to die.What wrong has Ghanaians committed to you and your government. please we cant afford to loose this money i mean how.please better tell us something that will bring our pressure down and stop lying to the international world
HEY HEY YOU AND WHO PAY OUR INVESTMENT FOR US AND STOP LYING. WHAT A HELL
Lies and more lies. MTCHEEEW
Please pay my investments at Gold Coast so I can benefit from this economic turn-around.