The decline in inflation and macro stability are indications that Ghana is on a trajectory of recovery according to President Addo Dankwa Akufo-Addo.
The President, reiterated the Finance Minister’s assertion that Ghana has turned the corner due to the prudent measures put in place by the government to ensure businesses that went down got back on its feet.
Addressing an award ceremony for exporters in Accra, the President expressed confidence that his government has successfully navigated the challenges, marking a turning point.
He once again blamed Gh ana’s economic turmoil on the Covid-19 pandemic and the Russia invasion of Ukraine which he said was a global phenomenon.
“Ladies and Gentlemen, 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.
“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 to the right direction,” the President indicated.
According to the President, his administration has steered an unprecedented infrastructural development in its seven years in office in road, air, railway transportation systems, coupled with the expansion of ports to facilitate smoother business operations for Ghanaians.
“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 noted.
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