We’ve not had any fuel queues, not suffered shortages of food and essential items in Ghana – Akufo-Addo

President Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has said that he is very much aware of the current difficulties confronting the nation.

He assured that the government is working hard to resolve them.

“But, maybe, we should also count our blessings in how, together, we are managing the difficulties. We all see the images around the world. Here in Ghana, we have not had any fuel queues, we have not suffered shortages of food and essential items, or the catastrophe of dumsor.

“Undoubtedly, major global developments have had a negative impact on our domestic economic performance. We have witnessed historic highs in global inflation and food prices; rising global interest rates triggered by tightening of monetary policy of central banks across several advanced economies to tame rising inflation; an energy crisis with crude oil prices reaching unprecedented highs, at one point, above one hundred and twenty dollars (US$120) per barrel; the strengthening of the US dollar against all other currencies; the tightening of global financing conditions especially for emerging markets and developing economies; and the largescale disruption of the global supply chain,” he said in his address to mark the 66th Independence Day anniversary on Monday March 6.

He added that “These phenomena have manifested in Ghana in the form of the depreciation of our currency, the decline in gross international reserves, high inflation, elevated debt burden, significant fiscal stress, constrained domestic and external financing, and reduced GDP growth.

“It is these that have brought hardships upon our people. Government has deployed a number of fiscal interventions to help bring relief to Ghanaians, and, I am confident that, sooner rather than later, we will see significant results of relief and recovery. In two days, on Wednesday, 8th March, I will, in the Chamber of Parliament, deliver a Message on the State of the Nation, where I will delve into much greater detail the entirety of the package of policies Government is implementing to bring back the days of rapid growth.”

Mr Akufo-Addo further indicated that when he assumed office on 7th January 2017, he inherited a severely-challenged economy, whose rate of growth, at the time, was the lowest in over two decades.

“By dint of hard work, prudence and creativity, we managed to turn things around, creating an economy which, for the years 2017, 2018, and 2019, the years before the onset of COVID-19, was amongst the fastest growing economies not only in Africa, but also in the world, recording an annual GDP growth rate of seven percent (7%). We were the best place to do business in West Africa, and, in 2021, we were described as the most attractive destination for investment in West Africa.

“The next twenty-two (22) months of my mandate will be focused on restoring the economy we had before COVID and the Russian invasion of Ukraine to the period of rapid growth. It is a solemn pledge I am making to you, my fellow Ghanaians, and one which I am determined to fulfill. Before I take my seat, I want to inform you that, in fulfilment of the announcement I made at last year’s Founders’ Day Celebration, I will, on Tuesday, 14th March 2023, confer national honours on some citizens of our country, who distinguished themselves in the fight against the pandemic of COVID-19. By their actions, they helped protect and preserve our population, and won global acclaim for Mother Ghana.

“I will, also, on that day, express the nation’s gratitude to the legal team of men and women who were charged with ensuring that the maritime boundary dispute with Ghana’s immediate, western neighbour, the Republic of Côte d’Ivoire, ended favourably for Ghana, thus ensuring that our western maritime resources, including their potential oil and gas reserves, remained legitimately in our possession.

“I am sure we all saw the three (3) helicopters belonging to the Police Service joining this morning’s celebration. It is the first time in our nation’s history that the Police Service is employing the use of helicopters to improve its operational efficiency. The acquisition of these helicopters is to honour the pledge I made at the 2019 end of year Police WASSA, and I assure the officers, men and women of the Service of Government’s continued support in helping them to discharge effectively their mandate.”

By Laud Nartey|3news.com|Ghana


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