Breaking News

SONA 2018: “Strong, Brilliant Bawumia Healing Economy” -Akufo-Addo

Mahamudu Bawumiah and Akufo-Addo
Mahamudu Bawumiah and Akufo-Addo
President Nana Akufo-Addo has attributed the giant strides his government is making in the econmic centre to the hardworking of his vice, Mahamudu Bawumiah.

Delivering his second State of the Nation Address (SONA) in Parliament on Thursday, 8 February, President Akufo-Addo praised Dr Bawumiah whom he described as “strong” and “brilliant”. He said  though his government met an economy “choked by debt with macroeconomic indicators in disarray”, his vice president had worked hard to  been restore back the economy to glory ways.

“I am glad to be able to report that the Economic Management Team, under the stellar leadership of the strong, brilliant economist, Vice President Mahamudu Bawumia, 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% at December 2016, to 7.9% in our first year, and the indications are that it will be even better this year”, he added.

“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 arrears inherited, and, crucially, we are current on obligations to statutory funds,” Nana Akufo-Addo announced.


President Akufo-Addo also announced the end of the IMF later this year.

He said:  “I am also pleased to report that the 3-year IMF-supported Extended Credit Facility Programme, began in 2015, comes to an end this year”, adding that the relatively good macroeconomic performance in 2017 will strongly support “our successful completion of the IMF programme”.

“We are determined to put in place measures to ensure irreversibility, and sustain macroeconomic stability, so that we will have no reason to seek again the assistance of that powerful global body,” he added.

Source: myxyzonline

No comments