President John Dramani Mahama has declared that Ghana’s economy is recovering and back on track, following what he described as a period of severe crisis inherited by his administration.
According to him, the country has now emerged from deep economic distress marked by debt, inflation and hardship.
Delivering the State of the Nation Address (SONA) in Parliament on February 27, President Mahama said,
“No where was this national malice more evident than in the economic sector. We inherited an economy in sever crisis. Burdened by unsustainable debt, high inflation, a rapidly depreciating currency and an escalating cost of living crisis that had left our citizens reeling from years of unimaginable hardship, caused by general impudence and reckless management of the economy.”
According to him, the road to recovery was never going to be easy, but his government remained determined to reverse the situation.
“I was clear from the outset that recovery would not come easily, but I was also clear that I will stop at nothing to turn this situation around and bring relief to Ghanaians.”
“ I promised then that just as I have confronted and overcome crisis in the past, I will reset our economy and return us to a path of growth, progress and development.”
The President stated that difficult but necessary measures had been implemented to restore stability.
“I told this august house then when I appeared before you last year that we would have to take tough, prudent and necessary decisions to restore east ability and credibility. Today I can say to you with confidence, Ghana is back, Ghana is working again, and Ghana is opened for business.”
He added that economic indicators are beginning to show signs of improvement.
“The fundamentals are improving, and the oaths to sustained acceleration is very clear to everyone.”
President Mahama further indicated that his administration deliberately resolved to choose discipline over waste, reform over excuses and stability over exclusion.
“As a responsible government our first order of business was to halt the economic hemorrhaging and restore order to our public finances. We tightened expenditure and commitment controls.”
He stressed, “Our nation is on the runway. It is in takeoff mode, and you’re all advised to fasten your seatbelts.”
