FULL STATEMENT: I Inherited A Bad Economy From NDC- President Akufo-Addo
In accordance with Article 67 of the Constitution, President Nana Akufo-Addo today delivered his maiden state of the nation address before Parliament.
His detailed address touched on various aspects of Ghana’s economy and how he intends to restore the ruins he inherited from the previous administration.
President Nana Akufo-Addo didn’t shy away from painting the true economic picture of Ghana, stating emphatically that “the economy of our country is in a bad way”.
As at December 2016, the president claims that the former NDC government missed all targets under the IMF programme due to fiscal indiscipline.
He explained his point by noting that “Total projected expenditure for 2016 was GH¢43.9 billion (26% of GDP), but actual expenditure amounted to GH¢50.3 billion (30.2% of GDP). The full facts of the situation have not been put before the Ghanaian people.”
Ghana’s economic growth under his immediate predecessor, declined dramatically despite the record amount of financial resources at their disposal.
The President, who appeared bold in speech, told the nation that he is in a great hurry to deal with the problems we face and made known his desire to fix whatever is broken in our economy.
“I was not elected by the overwhelming majority of the Ghanaian people to complain. I was elected to get things done. I was elected to fix what is broken and my government and I are determined to do just that”.
He also applauded parliament for the expeditious manner in which they vetted his ministerial nominees.
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