Since assuming office in January 2017, President Akufo-Addo noted that his government has now finally been able to bring the fiscal deficit under some control, which hovered around 7.3% at the end of 2016, to under 3.9%.
“It is my intention that we keep it there. We keep it there because it is the signal to investors, it is the signal to those who look at the fundamentals of your economy, that the basic elements of that economy are in a good state,” he added.
The efforts of his government at managing the economy, the President said, has meant that “we are attracting companies like Volkswagen and Nissan, Synotruck, Renault, Suzuki. All of these are taking a big interest in Ghana.
“The tech giant, Google, is taking steps to start establishing an artificial intelligence centre in Ghana. All of this is because they consent that there are discipline and systemic management in our national economy and its public finances.”
Fiscal discipline, according to President Akufo-Addo, has to be Ghana’s credo going forward, adding that “if we are able to project that discipline, the benefits to us are going to be very rapid and very dramatic, and that transformation of our national economic structure, which all of us are waiting for, will be very soon around the corner.”
With Ghana projected to be one of the fastest growing economies in Africa this year, President Akufo-Addo stated that “we have to stay that way and stay focused on the programme, and on the way that we have taken things. I am trying to project the reality which is there’s a lot of hope for our country.”
To the “professional Jeremiahs” whose only interest is to run down the nation, the President stated that “I am not daunted. I don’t really pay too much attention to what they say. I know what I am doing, and I believe what I am doing has the support of our people.”