Ghana will bounce back - Tema MCE

The Tema Metropolitan Chief Executive, Yohane Amarh Ashitey, has returned to his positive rhetoric about the current state of the economy, pointing out that the country’s record of improvement in trade surplus, speaks to the fact that the government is still working.

On the sidelines of a Tema East Submetro Chairmanship election that came off in Tema over the weekend, the MCE reiterated that Ghana will bounce back under the leadership of president Akufo-Addo and that the positive trade surplus adds to many indications.

“Like I have always said, this government will never deny that we are in difficult times; however, Ghanaians have every reason to trust the president and his team to navigate us out of the trouble because they are doing just that.

“The improvement in the trade surplus is just one of the indications,” the MCE told journalists who had covered the submetro election.

Trade surplus is the outcome of the interplay between a country’s export volume and import volume.

Where exports outweigh imports it means there is a trade surplus which is positive because it basically means the country is exporting more than it is importing.

According to data from the Bank of Ghana, in the first two months of 2023, Ghana recorded a trade surplus of $752.8 million. This is about 1.0% of Gross Domestic Product (GDP).

It is also some $48million improvement over 2021’s surplus which was $205.8 million.

According to the BoG data, the significant growth in trade surplus was due to significant proceeds from gold exports. Meanwhile net imports also fell.

Total exports in the first two months of 2023 went up by 11.19% year-on-year to $2.76 billion. Total exports for the first two months in 2022 was $2.48 billion.

“Government’s critics will do well to remember that this improvement in trade surplus is happening at a time that the whole world is still trying to come to grips with the aftermath of the COVID-19 pandemic,” the MCE said.

Meanwhile, the Tema East submetro Chairmanship election was won by Hon. Dennis Amanor, a hardworking treasurer of Tema East NPP with high level of political maturity, was full of praise for the Tema East Constituency Chairman of the ruling New Patriotic Party (NPP), Nene Agbadiagba Ofoe-TeyeChu IV.

Those in attendance include Mr. Stephen Aboagye, 2nd Vice Chairman of Tema East NPP, Mr. Albert Kraku, Tema East NPP Communication Officer, Hon. Naomi Naki Donkor, a businesswoman, members of the Tema Traditional Council and the leadership of the fisher folk in Tema.

Hon. Yohane Amarh Ashitey, who received cheers from the many polling station executives on arrival said “the Lord is good all the time and nobody can thwart God’s agenda for the government, and nobody can thwart God’s agenda for the Nene Ofoe TeyeChu Agbadiagba-led NPP administration in Tema East”.