We have turned the corner and the economy is bouncing back – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has said that Ghana’s economy is currently undergoing a recovery.

According to him, the decrease in inflation and overall macro stability are clear signs that the economy is recovering.

To him, his administration has effectively navigated the challenges, marking a pivotal moment in the country's economic trajectory.

While acknowledging the adverse effects of the COVID-19 pandemic, exacerbated by global events such as Russia's invasion of Ukraine, President Akufo-Addo highlighted the significant impact on large Ghanaian businesses, some of which faced the risk of shutting down operations.

“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," he noted.

“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 in the right direction,” he is quoted to have said by citinewsroom.com

Emphasising the government's dedication to infrastructure development over the past seven years, President Akufo-Addo underscored the unprecedented scale of ongoing projects.

He pointed out the tangible progress in road, air, and railway transportation systems, along with the expansion of ports, designed to facilitate smoother business operations for 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,” he added.

NW/MA

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