In a 90-minute speech beamed live on national television and across the country's many radio stations, the president touched on almost every facet of life in Ghana but the speech was scant on specifics.
The speech was silent on the growing cost of renting homes in Ghana and corruption, which many people had expected to hear about.
He started the speech with what is becoming rhetoric of the New Patriotic Party administration: "Mr Speaker, fellow Ghanaians, let me remind every one that we inherited a bad economy."
He went on to say that the NPP administration in its three years in office has done a great deal to build investor confidence in the Ghanaian economy.
"Inflation is on a general decline, the Cedi has been relatively stable, domestic borrowing is lowest in many years, accumulation of foreign exchange stands at the highest in several years and interest rates have fallen from 50 per cent in the banks to the current 26 per cent."
Businesses, the president said could invest in Ghana assured that they would "operate in a stable environment achieved as a result of the hard work and good policies of the NPP government."
On education, the president said the Ghana Education Services' decision to release a league table of results of various secondary schools is a move that would inject more competition in schools.
"But I am not happy that my school, Prempeh College was beaten by Opoku Ware for the first time", he joked. "The essence of the results though must not be lost on anyone. A lot of schools are doing well, we must make quality education must become accessible to many in every district which is what we are trying to do."
Cheers from the Majority side and jeers from the minority side often interrupted the president’s speech.
The president also tried to calm donor fears that government would spend excessively as it tries to win back power in the upcoming general elections.
"History indicates that generally there is financial indiscipline in election years which wipes away years of hard work. This govt would resist every temptation to go that way. Every one must accept the same responsibilities. I urge organised labour to be moderate in their demands as we cannot afford to negate progress of the past three years."
Reaction to the president's speech was mixed with many from the opposition parties condemning it.
National Democratic Congress presidential candidate John Evans Atta Mills said, "It is true we made a lot of money more than ever from foreign exchange but I thought he would have told us how the money was used."
Minority chief whip Alban Bagbin in the presence of the President told Parliament that the president's speech was "inconsiderate and disappointing" because it didn't touch enough on corruption.
The leader of the Ghana Consolidated Popular Party Dan Lartey was more critical in his assessment. "The president said nothing", was his verdict.
But deputy Information Minister Asamoah Boateng said the Minority's reaction was predictable. "Do you expect anything different?", he asked on JoyFM. "They are people who see nothing good. But let me tell you what the president did. He delivered a speech that showed us where he intends to take the nation and a speech that showed he has what it takes to lead this country. He started by telling us what he inherited and told us in very clear language how he intends to make this country better", Boateng said
Economist and one time presidential aspirant Kwame Pianim backed Boatneg’s view. "I think it was an excellent review of the state of the economy which is what a state of the nation address is supposed to be. Government is saying; we have created a good environment for business so take advantage of that."
In a 90-minute speech beamed live on national television and across the country's many radio stations, the president touched on almost every facet of life in Ghana but the speech was scant on specifics.
The speech was silent on the growing cost of renting homes in Ghana and corruption, which many people had expected to hear about.
He started the speech with what is becoming rhetoric of the New Patriotic Party administration: "Mr Speaker, fellow Ghanaians, let me remind every one that we inherited a bad economy."
He went on to say that the NPP administration in its three years in office has done a great deal to build investor confidence in the Ghanaian economy.
"Inflation is on a general decline, the Cedi has been relatively stable, domestic borrowing is lowest in many years, accumulation of foreign exchange stands at the highest in several years and interest rates have fallen from 50 per cent in the banks to the current 26 per cent."
Businesses, the president said could invest in Ghana assured that they would "operate in a stable environment achieved as a result of the hard work and good policies of the NPP government."
On education, the president said the Ghana Education Services' decision to release a league table of results of various secondary schools is a move that would inject more competition in schools.
"But I am not happy that my school, Prempeh College was beaten by Opoku Ware for the first time", he joked. "The essence of the results though must not be lost on anyone. A lot of schools are doing well, we must make quality education must become accessible to many in every district which is what we are trying to do."
Cheers from the Majority side and jeers from the minority side often interrupted the president’s speech.
The president also tried to calm donor fears that government would spend excessively as it tries to win back power in the upcoming general elections.
"History indicates that generally there is financial indiscipline in election years which wipes away years of hard work. This govt would resist every temptation to go that way. Every one must accept the same responsibilities. I urge organised labour to be moderate in their demands as we cannot afford to negate progress of the past three years."
Reaction to the president's speech was mixed with many from the opposition parties condemning it.
National Democratic Congress presidential candidate John Evans Atta Mills said, "It is true we made a lot of money more than ever from foreign exchange but I thought he would have told us how the money was used."
Minority chief whip Alban Bagbin in the presence of the President told Parliament that the president's speech was "inconsiderate and disappointing" because it didn't touch enough on corruption.
The leader of the Ghana Consolidated Popular Party Dan Lartey was more critical in his assessment. "The president said nothing", was his verdict.
But deputy Information Minister Asamoah Boateng said the Minority's reaction was predictable. "Do you expect anything different?", he asked on JoyFM. "They are people who see nothing good. But let me tell you what the president did. He delivered a speech that showed us where he intends to take the nation and a speech that showed he has what it takes to lead this country. He started by telling us what he inherited and told us in very clear language how he intends to make this country better", Boateng said
Economist and one time presidential aspirant Kwame Pianim backed Boatneg’s view. "I think it was an excellent review of the state of the economy which is what a state of the nation address is supposed to be. Government is saying; we have created a good environment for business so take advantage of that."
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