Ghana’s economy is bouncing back – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has confidently declared that Ghana’s economy is on a path to recovery, citing a decline in inflation and overall macro stability.

Addressing an award ceremony for exporters in Accra, the President expressed confidence that his government has successfully navigated the challenges, marking a 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.

“The last 3 years have been challenging and the government has been doing its utmost to help ensure the reversal of our fortunes. 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.”

Highlighting the government’s commitment to infrastructure development over the past seven years, President Akufo-Addo emphasized the unprecedented scale of ongoing projects.

He noted that the tangible progress in road, air, and railway transportation systems, coupled with the expansion of ports, is designed to facilitate smoother business operations for the 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.

“New road, airways, and railways transportation systems, as well as the extension of our Ports, are all geared towards helping you conduct your businesses smoothly”.

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