The President Nana Akufo-Addo has said though his government met an economy “choked by debt with macroeconomic indicators in disarray”, the Economic Management Team led by the Vice-President Dr Mahamudu Bawumia has restored it back to good health, one of envy.
In his second State of the Nation Address (SONA) in Parliament, the President said: “I’m glad to be able to report that the Economic Management Team, under the stellar leadership of the strong, brilliant economist, Vice President Mahamudu Bawumia, has risen to the challenge, and the hard work is beginning to show positive results.
We have reduced taxes, we are bringing down inflation and interest rates, economic growth is increasing, from the alarming 3.6% at December 2016, to 7.9% in our first year, and the indications are that it will be even better this year.”
He further stated that, “we have increased our international reserves, maintained relative exchange rate stability, reduced the debt to GDP ratio and the rate of debt accumulation, we have paid almost half of arrears inherited, and, crucially, we are current on obligations to statutory funds.”
Nana Addo indicated his government had met one of the governments flagship campaign promises which is restoring teacher and nursing training allowances.
“We have doubled the capitation grant, and, to confound the sceptics and professional naysayers, we have implemented Free Senior High School education. It has enabled 90,000 more students gain access to Senior High School education, in 2017, than in 2016,” he added.