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SONA 2018: Economy Growing, Debts Lowering – Akufo-Addo

President Nana Akufo-Addo

President Nana Akufo-Addo has said the country’s economy is growing better than he inherited from the National Democratic Congress (NDC) government.

He said half of the debt accumulated prior to his swearing in as a president  has been defrayed and the economy was on a growing path.

Mr Akufo-Addo who was addressing parliament on the state of the nation, praised the Vice president Dr Bawumiah for working hard to grow the economy.

“Vice president Mahamudu Bawumiah has risen to the challenge and the hard work is beginning to show positive results. We have reduced taxes, we are bringing down inflation and interest rates. Economic growth is increasing from the alarming 3.6% in December 2016 to 7.9% in our first year. And the indications are that it will be even better this year,” he said.

While talking about the progress the economy is seeing, he said “We have increased our international reserves, maintained relative exchange rate stability, reduced the debt to GDP ratio and the rate of debt accumulation. We have paid almost half of the arrears inherited.”

He also said he was pleased to announce that the IMF programme that started in 2015 is ending this year.

He also announced that his government has restored the nurse trainee allowances and the teacher trainee allowances . he continued that the flagship programme, the Free Senior High School has been rolled  out as he promised the House in 2017.

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