President Nana Addo Dankwa Akufo-Addo has emphasized that his administration remains committed to restoring the ailing Ghanaian economy to full throttle.

According to him, downturn experienced in the last few years has been occasioned by the depreciation of the local currency and unsustainable debt stock, forcing government to seek an intervention from the IMF.

Delivering an address to mark the Eid-Ul-Adha festivities at the Black Star Square on June 28, President Akufo-Addo suggested that the country was gradually witnessing some economic gains following the first tranche of the $3 billion IMF bailout and measures adopted by government.

“I said at the height of the COVID-19 pandemic that we do not know how to bring back lives, but we know how to bring back an economy. I stand by those words. Insha Allah, we are working to restore the economy to full health, and, Insha Allah, we shall do so”.

“The currency has seen some stability lately, and, through the Gold-for-Oil Programme, we have seen the stability in the prices of petroleum products as well, all of which are bringing inflation down. Things are getting better, and will get better, I can assure you. Things are getting better and will get better”.

Akufo-Addo said despite these gains, government will continue to embark on sustainable polices aimed at restoring the economy to full health.

“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,” he outlined.

“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,” President Akufo-Addo indicated.

MA/FNOQ