The President, Nana Addo Dankwa Akufo-Addo, has reaffirmed his administration’s commitment to bolstering the faltering economy.
He claimed that his government is devoted to reviving the economy.
The government requested a $3 million bailout from the International Monetary Fund (IMF) as a result of the recent downturn in the economy, which was brought on by soaring prices for goods and services, an unmanageable debt stock, and a shaky currency
.Addressing Muslims during the Eid-Ul-Adha celebration on Wednesday, June 28, the President attributed stability in prices of petroleum products, the local currency to the reduction in inflation.
“I said that we do not know how to bring back life, but we do know how to bring back an economy at the height of the COVID-19 pandemic. I stand by what I said. We are working to get the economy back on track, and, insha Allah, we will succeed.
“The price of petroleum goods has been stable recently thanks to the Gold for Oil Program, which is also bringing down inflation, and the currency has recently experienced some stability. I can assure you that things are improving and will continue to improve.
“We have continued to keep the lights on. We have continued to provide free SHS education. We have continued to ensure drone delivery of critical medicines to needy and remote communities. We have continued to keep the Zongo Development Fund. We have continued to build new roads and repair old ones. We have continued with our 1 -District-1 -Factory policy, and the Programme for Planting for Food and Jobs.
“It is this attitude and commitment by the Government that have enabled us to obtain an IMF programme in record time. As you can see, we are beginning to navigate the turbulence, with our economy growing by 4.2 percent in the first quarter of 2023,” the President indicated.
