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Economy Of Ghana “Economy is on a good course” – Nana Addo

President Akufo-Addo said that his predecessor handed a poor economy over to him. But due to hard work, they are restructuring it unto a better path.

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President Akufo-Addo play

President Akufo-Addo

President Nana Akufo-Addo has emphasised that Ghana’s economy is on the right path despite the challenges it is facing currently.

The President said this when he addressed members of the New Patriotic Party (NPP) at Koforidua in the Eastern Region during the party’s National Delegate’s Conference.

He said that his predecessor handed a poor economy over to him. But due to hard work, they are restructuring it unto a better path.

READ ALSO: BoG releases directive on for mergers & acquisitions

“Our economy is on a good course, and it will mean that, when we finish with the IMF Programme this year, our economy will be stronger than the one we inherited.”

Some Ghanaians especially members of the opposition National Democratic Congress are skeptical about government’s handling of the economy.

In June 2018, former president John Mahama posted a short clip of Dr Bawumia giving a lecture on the economy when he was the then opposition New Patriotic Party vice presidential candidate.

In the video, Bawumia is heard saying 'when the fundamentals of the economy are weak, the cedi will expose you." He was analysing the economy under John Mahama.

READ ALSO: Gov’t will arrest ‘free-falling’ cedi – Majority

Mahama had published the video in response to the depreciation of the cedi which has got exporters and importers of commodities alarmed.

However, Nana Akufo-Addo maintains that the NPP government is managing the economy better.

“We have brought the unsustainable fiscal deficit down from 9.3 percent in Mahama’s last year to 6 percent in 2017. We will get it further down this year. The rate of inflation has improved from 15.4 percent we are now in single-digit figures. The cedi is a more stable currency, despite its recent challenges.”

“I know there are some who think these figures are meaningless. They are wrong. The figures point to a growing, stronger macro-economy. Without that, we cannot deliver prosperity… I know that things are still not easy, but if we stay true to the path we are charting, we will see very soon the light at the end of the tunnel. Let us remain resolute. We will deliver prosperity,” the President added.

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