We have no fuel queues, no shortage of food and essentials in Ghana – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo said he is well aware of the current difficulties facing the country.
He assured that the government is working hard to resolve it.
“But, perhaps, we should also count our blessings by working together to overcome difficulties. We all see the picture around the world. Here in Ghana, we don’t have fuel queues, we don’t suffer from shortages of food and essentials, or disaster dumsor.
“Of course, major global developments have a negative impact on the performance of our domestic economy. We have witnessed a historic high in global inflation and food prices; the rise in global interest rates was triggered by the tightening of monetary policy by central banks among several developed countries to tame the rise of inflation ; the energy crisis with the price of crude oil reaching an unprecedented high, at one point, above one hundred and twenty dollars (US$120) per barrel; the strengthening of the US dollar against all other currencies; tightening of global financing conditions especially for emerging markets and developing economies; and major disruptions in global supply chains,” he said in a speech to mark the 66th anniversary of independence on Monday, March 6.
He added that “These phenomena have manifested in Ghana in the form of depreciation of our currency, decline in gross international reserves, high inflation, high debt burden, significant fiscal stress, domestic and external financing, and reduced GDP growth.
“This is what is causing distress to our people. The government has implemented several fiscal interventions to help Ghanaians, and, I am sure, sooner rather than later, we will see the results of significant relief and recovery. In two days, on Wednesday, 8Th March, I will, in the Houses of Parliament, deliver a Message on the State of the Nation, where I will explain in more detail the policy package that the Government is implementing to recover the days of rapid growth.
Mr. Akufo-Addo further pointed out that he was in office on the 7thTh January 2017, he got a very challenging economy, whose growth rate was, at the time, the lowest in two decades.
“With hard work, prudence and creativity, we can change the situation, create an economy that, for 2017, 2018, and 2019, the year before the start of COVID-19, is one of the fastest growing economies not only in Africa, but also in the world, recording an annual GDP growth rate of seven percent (7%). We are the best place to do business in West Africa, and in 2021, we are described as the best investment destination in West Africa.
“The next twenty-two (22) months of my mandate will focus on restoring the economy that existed before COVID and the Russian invasion of Ukraine to a period of rapid growth. This is a solemn promise that I have made to you, my fellow Ghanaians, and a promise that I must fulfill Before I sit down, I would like to inform you that, as a fulfillment of the announcement I made during the commemoration of the Founder’s Day last year, I will deliver on Tuesday, the 14th.Th March 2023, we are giving national awards to some of our citizens, who have distinguished themselves in the fight against the COVID-19 pandemic. By doing so, she helped protect and preserve our population, and earned global praise for Mother Ghana.
“I also, on that day, thanked the country for the legal team of men and women tasked to ensure that the maritime boundary dispute with Ghana’s western neighbour, the Republic of Côte d’Ivoire, is resolved amicably. Ghana, thus ensuring that maritime resources our west, including its potential oil and gas reserves, remains legally ours.
“I believe we all saw three (3) helicopters belonging to the Police participating in the celebration this morning. This is the first time in our country’s history that the Police Service is using helicopters to improve operational efficiency. The acquisition of this helicopter is in honor of the promise I made at the end of 2019 of the WASSA Police, and I assure the officers, men and women of the Government Service to continue to support them to effectively implement their mandate.
By Laud Nartey|3news.com|Ghana
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