President Akufo-Addo has said the recent GDP growth in the country has placed it among the highest in the world.
Addressing his 3rd State of the Nation Address in Ghana’s Parliament in Accra, Akufo-Addo further noted despite the improvements in Ghana’s economic fundamentals “we intend to introduce measures that will ensure that we have the firmest foundations for the economic takeoff that has eluded us for so long.”
He said Ghana for the first time, recorded a trade surplus (more exports than imports) in 2017 with a declining debt to GDP ratio from 56.6% in 2016 to 54.8% at the end of 2018.
Speaking on the International Monetary Fund agreement of the country which was further extended by his government, President Akufo-Addo said: “this is the 16th time Ghana has had to go to the IMF. We can’t make the progress we desire until we are consistent in the management of our own economy.”
The President also revealed that for the first time the country has recorded a trade surplus under his administration.
“For the first time, we recorded a trade surplus (more exports than imports) in 2017. We have imposed fiscal discipline and business confidence is growing. We will maintain discipline and develop our country. Our efforts are bearing fruits and the world is taken notice of the improvement in our economic fundamentals.”
Further, on how to make the country’s economy stand to the rest of the world, he added that government intend to introduce measures that will ensure that we have the firmest foundations for the economic takeoff that has eluded us for so long.