<<Print>>

President John Evans Atta Mills has described the current state of the nation as "stable and in reasonable good health" whiles the economy is "full of promise". Delivering his Fourth State of the Nation Address - the last of his first term before Ghana heads to the December polls to either renew his mandate or revoke it - in Parliament today, President Mills told the lawmakers that under his watch, the economy has made substantial progress with the country recording unprecedented growth rate in the annals of the nation�s history "with a provisional growth rate approaching 14%." According to him, though he had once described inflation as the worst economic nightmare any country can go through, his administration was able to record "the most sustained single digit rates of inflation in decades, with the rate of inflation of 8.55% for 2011 being the lowest in 42 years since 1970". "I intend to...deliver a message on the state of the nation which I daresay is stable and in reasonably good health. The economy is full of promise and in terms of development; we are making substantial progress...Under my watch, Ghana has recorded the highest ever growth rate in the annals of our nation�s history with a provisional growth rate approaching 14%. In my 2011 State of the Nation Address, I described inflation as the worst economic nightmare any country can go through because it breeds economic and financial difficulties and imposes hardships on the most vulnerable. "I stated then that our success in confronting inflation in the previous year was notable; the challenge was to remain on course. I am happy to report that indeed we remained on course�We recorded the most sustained single digit rates of inflation in decades, with the rate of inflation of 8.55% for 2011 being the lowest in 42 years since 1970...With the exception of the level of the budget deficit which was higher than anticipated, we have managed to attain the macroeconomic projections contained in the 2008 NDC Manifesto for a Better Ghana�,� President Mills said.