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General News Thu, 16 Nov 2017

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Akufo-Addo’s prudent management yielding result - Finance Minister

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The prudent management of the economy under the leadership of President Nana Addo Dankwa Akufo-Addo is now yielding positive results, Finance Minister, Mr. Ken Ofori Atta has said.

“The real GDP growth for 2017 is provisionally estimated at 7.9 percent, with non-oil GDP growth of 4.8 percent. This compares extremely favorably with a real GDP growth target of 6.3 percent and a 2016 outturn of 3.7 percent”, he explains

“At the sectoral level, the Industry Sector recovered from a negative growth of 0.5 percent and is expected to grow by 17.7 percent in 2017 due to increased production in upstream oil and gas”, the Minister revealed

“Mr. Speaker we are witnessing a return to robust growth after 2016 recorded the lowest growth performance in almost two decades”, the Minister in the 2018 budget told Parliament.

According to him, inflation continued to decline in 2017 mainly on account of exchange rate stability, tight monetary policy and fiscal consolidation.

“Inflation declined from 15.4 percent in December 2016 to 11.6 percent in October 2017, despite the occasional marginal upticks”, the Finance Minister pointed out.



But the Minority National Democratic Congress (NDC), has observed that the 2018 budget is nothing short of a scam which will worsen the plight of the ordinary Ghanaian as was in the case in 1983.

They described it as “Wahala and 419” calling on Ghanaians to be wary of promises made in the budget by the current government they believe are being economical with the truth in some of the figures they claimed told their success story.

Source: My News GH

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