Akufo Addo reiterates govt's commitment to restoring ailing economy

"We are working assiduously to restore the economy to full health," he said

Addressing Muslims during the Eid-Ul-Adha celebration on Wednesday, June 28, the President attributed stability in prices of petroleum products, the local currency to the reduction in inflation.

“I said at the height of the COVID-19 pandemic that we do not know how to bring back lives, but we know how to bring back an economy. I stand by those words. Insha Allah, we are working to restore the economy to full health, and, Insha Allah, we shall do so”.

“The currency has seen some stability lately, and, through the Gold for Oil Program, we have seen the stability in the prices of petroleum products as well, all of which are bringing inflation down. Things are getting better, and will get better, I can assure you. Things are getting better and will get better”.

Akufo Addo reiterated his government's commitment to stabilizing the economic turbulence the country is facing by embarking on the provision of policies such as the 1-District-1-Factory-1, Planting for Food and Jobs, and Free Senior High School amongst others.

“We have continued to keep the lights on. We have continued to provide free SHS education. We have continued to ensure drone delivery of critical medicines to needy and remote communities. We have continued to keep the Zongo Development Fund. We have continued to build new roads and repair old ones. We have continued with our 1 -District-1 -Factory policy, and the Program for Planting for Food and Jobs.

“It is this attitude and commitment by the Government that have enabled us to obtain an IMF program in record time. As you can see, we are beginning to navigate the turbulence, with our economy growing by 4.2 percent in the first quarter of 2023,”

The economy in recent times has taken a downturn with prices of goods and services skyrocketing, unsustainable debt stock, and wobbly currency causing the government to seek a $3 million bailout from the International Monetary Fund (IMF).