President Nana Addo Dankwa Akufo-Addo has confidently announced that Ghana's economy is on a trajectory of recovery, citing a decline in inflation and overall macroeconomic stability.
The President made this assertion during an award ceremony honouring exporters in Accra, expressing confidence that his government has successfully navigated challenges, marking a significant turning point.
“Ladies and Gentlemen, we acknowledge the negative effects of the Covid-19 pandemic. The consequences have been worsened by Russia's invasion of Ukraine and businesses globally. I dare say that the largest Ghanaian businesses had been severely hit, some to the extent of folding up operations,” President Akufo-Addo acknowledged.
He went on to highlight the government's dedicated efforts over the last three years to reverse the economic downturn, attributing the positive shift to the grace of God, hard work, and prudent economic management.
“I'm happy to state that by the grace of God and with hard work, and prudent management of the economy, we have turned the corner with all macro indices with the rate of inflation, exchange rate stability, and economic growth rate all now pointing to the right direction,” the President affirmed.
President Akufo-Addo further underscored the government's commitment to infrastructure development over the past seven years, emphasizing the unprecedented scale of ongoing projects.
He noted the tangible progress in road, air, and railway transportation systems, as well as the expansion of ports, all designed to facilitate smoother business operations for citizens.
“Over the last 7 years, my government has given true meaning to the phrase unprecedented infrastructure development. So much so good, some people see the images of ongoing projects and think they are photoshopped,” he stated.
