SONA 2024: Government needs to consolidate our economic gains - Dr. Stephen Amoah

The Deputy Minister of Trade and Industry and member of parliament for the Nhyiaeso constituency, Dr. Stephen Amoah, has underscored the importance of consolidating economic gains in Ghana.

In an exclusive interview with GhanaWeb on the back of President Nana Addo Dankwa Akufo-Addo's State of the Nation Address, he expressed confidence in the country's economic indicators, noting its pivotal role in assessing the nation's progress.

“I believe in economic numbers because at the end of the day, whether we will be praised or otherwise, will depend on the primary indicators that were translating into the secondary micro indicators,” he stated.

Acknowledging the challenges posed by global factors such as the COVID-19 pandemic and the Russia-Ukraine War, Dr. Stephen Amoah highlighted the resilience of Ghana's economy amidst adversity.

“A few months back, we were all scared of the way the economy was going, attributed to the fact that the global economy had been dented by COVID-19 and the Russia-Ukraine War or were seeing a whole lot, but as to whether these were the reasons or not as the opposition is trying to say, the good story is that, indeed, things are getting better,” he remarked.

Dr. Amoah also pointed out significant improvements across various economic metrics, citing a decline in inflation and robust GDP growth, as evidence of Ghana's progress.

“We talked about restoration and truly there is. Inflation went as high as 54 percent, now it is hovering around 23.1 per cent. Our GDP, we targeted about 1.5 and now we are having 2.8. The current account had a negative, and now we have a positive one, indicating that in terms of the import and export of goods and services, we are having positive signals now. These are all indications that the economy is getting restored,” Stephen Amoah elaborated.

He added that the positive trajectory observed in the key economic indicators reflects the effectiveness of government policies that are aimed at promoting economic stability and growth.

“As a nation, it is imperative that we capitalize on these achievements and continue to implement strategies that will further solidify our economic foundation. By fostering an enabling environment for business and investment, we can unlock new opportunities and drive inclusive growth,” he concluded.



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