A Ghanaian making a contribution during the interaction
Twenty-two months into the administration of President Nana Addo Dankwa Akufo-Addo, Ghana is on the rise again, with prospects for growth and development bright, the Vice President of the Republic has stated.
According to Dr Mahamudu Bawumia, ongoing structural and policy initiatives, including a commitment to transform the Ghanaian economy through the use of technology while paying greater attention to human resource development, will set the stage for a brighter future for Ghana.
“By any stretch of the argument, if one looks at the progress made in the last 22 months, there is no doubt that Ghana is on the rise again. The Nana Akufo-Addo government has implemented policies and programmes that have had a direct benefit on the life of the ordinary Ghanaian, while dealing with the challenges that we inherited as a government.
“We are more than convinced that the future can only be bright and we keep higher hopes. We can only thank God Almighty for how far he has brought us as a nation,” Dr Bawumia pointed out.
Vice President Bawumia, who was giving an overview of the performance of the Nana Akufo-Addo government to the Ghanaian community in Lebanon on Tuesday, 20th November, 2018, as part of a three-day visit, said the administration would continue to think outside the box to make Ghana an example to the rest of the continent.
The Vice President is in Lebanon to witness the award of United Nations Medals to Ghana’s contingent attached to the United Nations Interim Force in Lebanon (UNIFIL), the first time the President or Vice President of Ghana has visited Ghanaian troops in Lebanon, although Ghana has supported UNIFIL with troops since the inception of the mission 40 years ago.
He cited the gains made in the macro economy, including an increase in the size of the Ghanaian economy from 3.7% in 2016 to 8.5% in 2017; a decline in inflation from 15.4% in 2016 to 11.8% in 2017 and now standing in single digits at 9.5%; as well as a decline in the debt to GDP ratio from 73.1% in 2016 to about 55% following the rebasing of the economy, as evidence of government’s firm grip on the economic management wheel.
Dr. Bawumia stated, among others, that such macroeconomic improvements led to the upgrading of Ghana’s credit rating for the first time in 10 years from B minus to B with positive outlook by Standard and Poor’s – a global ratings agency.
He continued: “Today, ‘dumsor’ is not killing people’s businesses. Unemployed graduates are being employed under a special vehicle called NABCO. Nursing and teacher trainee allowances have been restored. Government is paying the registration fees for BECE candidates. Parents are not paying for senior high school fees. Electricity tariffs have been reduced for both business and individual use.