First Lady Rebecca Akufo-Addo has reiterated government’s promise to fix the economy despite the challenges it inherited from the John Mahama administration.
She asked Ghanaians to “trust” the Akufo-Addo administration to deliver on that promise.
“Despite the challenges, we will fix the economic situation. Trust this government to deliver on this promise,” Mrs Akufo-Addo said in a tweet.
President Nana Addo Dankwa Akufo-Addo, delivering his maiden State of the Nation address in Parliament on Tuesday 21 February, said despite the weak economy he had inherited, he would work to fix it as he was not elected to complain.
Mr Akufo-Addo painted a gloomy image of the state of the nation. According to him, “the reality of the state of Ghana’s public finances today is quite stark”.
He noted that the persistent resort to borrowing for any additional expenditure to meet the aspirations of Ghanaians was not sustainable, adding: “We cannot continue this way with our public finances.”
Mr Akufo-Addo stated that Ghana’s banking sector had not escaped the economic decline and had become increasingly fragile, noting that bad loans in the banking sector had risen significantly.
He said his government would implement some tough, prudent and innovative policies to “get out of this financial cul-de sac”.
Despite the myriad difficulties he claimed the country faced, Mr Akufo-Addo and his wife have given the assurance the New Patriotic Party (NPP) administration would restore the economy to good health.
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