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Business News of Saturday, 5 January 2013

Source: Ghana Business News

President Mahama expects more positive economic out-turn in 2013

In his first State of the Nation address today January 4, 2013, Ghana’s President John Dramani Mahama has said he expects the country to record more positive economic gains this year 2013.

The President told parliamentarians that government has put in place prudent fiscal policies to achieve and maintain macro-economic stability.

"Ghana’s GDP growth rates continue to be among the highest in the world. With the record-breaking growth of 2011, occasioned partly by the commencement of oil production, this year again we expect an eventual positive out turn of growth between 8.5 and 9 percent,” Mahama said.

He described the current status of the economy as strong on the of the fact that the economy was in some significant distress when the ruling National Democratic Congress (NDC) took power.

“The government through hard work and prudent monetary and fiscal policies maintained macro-economic stability,” he said.

Ghana’s economy was one of the fastest growing in 2011 globally and its growth for 2012 year is expected to accelerate. The country’s economy grew at least 13% in 2011, according to the government’s economic indicators.

President Mahama praised the work of Parliamentarians over the last four years. He made mention of the Speaker of Parliament Mrs Joyce Bamford-Addo who is Ghana’s first female Speaker for distinguishing herself during her tenure as Speaker of the 5th Parliament of the 4th Republic.

The President however indicated that Ghanaians are demanding partnership and not partisanship in leadership.

He, therefore, called for greater collaboration between government and the Legislature, stressing the need for “all to live in unity for a greater impact”.

President Mahama was ending the unexpired term of the Late Prof John Atta Mills who died in 2011 during his reign as President.

President Mahama will be sworn-in as President January 7, 2013 to begin a full four-year term of office after winning the December 7, 2012 presidential elections.

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