President Akufo-Addo has said the recent GDP growth in Ghana has placed it among the highest in the world.
Addressing Parliament on the 2019 state of the Nation address on Thursday, the President stated the country’s debt to GDP ratio which declined from 56.6% in 2016 to 54.8% at the end of 2018 is a great achievement.
“Government intend to introduce measures that will ensure that we have the firmest foundations for the economic take-off that has eluded us for so long” he stressed
President Akufo-Addo also spoke on the International Monetary Fund agreement of the country which was further extended by his government.
“This is the 16th time Ghana has had to go to the IMF. We can’t make the progress we desire until we are consistent in the management of our own economy.”
The President also revealed Ghana has for the first time recorded a trade surplus under his administration.
“For the first time, we recorded a trade surplus (more exports than imports) in 2017. We have imposed fiscal discipline and business confidence is growing. We will maintain discipline and develop our country. Our efforts are bearing fruits and the world is taken notice of the improvement in our economic fundamentals.”