President Akufo-Addo Confident Of Resolving Economic Challenges  

President Akufo-Addo says he will take tough, prudent and innovative policies to arrest the ailing economy restore fiscal discipline and increase economic growth. 

Presenting his first State of the Nation Address to Parliament, the President said he was not elected to complain about the economy but fix it and he intends to honour the pledge.  

President Akufo-Addo painted a bleak picture of Ghana’s economy describing the current state of the economy as bad.  He said the worst fears of the government had been confirmed.  

President Akufo-Addo said the past government missed all the targets set under the IMF programme. Backing his claims with figures, President Akufo Addo said total projected expenditure for 2016 was 43.9 billion Ghana cedis but actual expenditure was 50.3 billion Ghana cedis.  

In addition, the then government also performed poorly in revenue mobilisation.

President Akufo-Addo said Ghana's total debt stock as at the end of 2016 is estimated at 122 billion Ghana cedis.

This represents provisionally, 74% of GDP. However, the President said he will not allow the economy to collapse under his watch, pledging his commitment to address the deficit.

On the Energy Sector, President Akufo-Addo said the current state of the sector is not the best. He said government will initiate policies that will improve transparency in the setting of tariffs.

President Akufo-Addo also announced that government will review all agreements signed with the Electricity Company of Ghana. 

He said there will be a master plan for ECG to enhance efficiency.

President Akufo-Addo reiterated his government's commitment to make education a critical agenda by rolling out his much talked about policy of free SHS. 

He also mentioned that Teacher trainee allowances will be restored in next month's budget.

On health, the President was brief in his statement. He simply said, Nurses Training Allowances will be restored and the National Health Insurance Scheme revived.

President Akuf-Addo announced that, the affirmative action bill will be passed by parliament to ensure that women receive equal representation in government.

President Akufo-Addo described the Ghana Armed Forces and other security institutions as critical to the country's democracy. 

He said government, will resource the security agencies, to better position them for their mandate.

On Agriculture, the President hinted of government’s commitment to promote all year farming and promised an increase in public investment in the sector.

GBC