Speaker, we inherited an economy that was in distress; chocked by debt and with macroeconomic fundamentals in disarray. For instance, President Akufo-Addo said his administration has been able to bring down inflation and interest rates with economic growth increasing from the alarming 3.6% as at December 2016 to 7.9% in 2017. In addition to that, his administration has been able to pay “almost half of the arrears inherited and crucially, we are current on our obligation to statutory funds”. “The relatively good macroeconomic performance in 2017 will strongly support our successful completion of the IMF program. We are determined to put in place measures to ensure a sustained macroeconomic stability so that we have no reason to seek again the assistance of the powerful global body”.With the bullish economy, President Akufo-Addo added that they have been able to confine their “skeptics and professional naysayers”.

Source: GhanaWeb February 08, 2018 12:43 UTC