The President of the Republic, Nana Addo Dankwa Akufo-Addo, has reassured Ghanaians and the international community that the country's economy is on a strong recovery path.
The President cited an impressive growth rate of 4.7% in the first quarter of 2024, surpassing the IMF's forecast of 3.1%. This growth, driven by the industrial sector's 6.8% expansion and a 4.1% rise in the agricultural sector, underscores the effectiveness of the government's economic policies. President Akufo-Addo also emphasized the significance of Ghana's successful debt restructuring initiatives.
The President also outlined the successful negotiations with external bilateral creditors, which resulted in a cash flow relief of approximately $2.8 billion. This relief, spanning from 2023 to 2026, allows the government to reallocate funds towards critical infrastructure and development projects that had been stalled due to financial constraints.
"The Ghana CARES 'Obaatampa' Programme sets out our roadmap towards the strong revitalization of the Ghanaian economy," President Akufo-Addo explained."Each of you must help and contribute to the success of this programme, by facilitating, amongst other things, as much foreign investment into the country as you can."
"This remark was made to justify the extraordinary expenditures that Government was forced to make during the pandemic to afford relief and protection to the population. I believe, in all humility, that the nation is today appreciative of the validity of my statement, as our economic recovery is strongly on course."There was a problem processing your submission. Please try again later.