The National Democratic Congress (NDC) Minority in Parliament has described President Akufo-Addo’s 2018 address on State of the Nation as nothing but an address laden with promises.
“Mr President we’ve heard you on your state of promises, and Mr President we’ve heard you that at least sole sourcing is lawful in Ghana. Mr Speaker, the Eastern Corridor road and the Bolgatanga -Bawku road, if contractors are paid and not given renegotiation, they’ll be completed. The fidelity and candidness of what Mr President has done, how I wish he’d arrived on a Takoradi-Paga train as he promised,” The Minority Leader Haruna Iddrisu said on the floor of Parliament when he rose to second the motion for the adjournment of the House after President Akufo Addo delivered his State of the Nation Address.
The President in his speech noted that his administration has been able to prove the skeptics wrong following the rebound of the economy as a result of pragmatic policies and programs put in place.
“Mr. Speaker, we inherited an economy that was in distress; chocked by debt and with macroeconomic fundamentals in disarray. You will recall that I said we would have to implement some tough, prudent and innovative policies to get us out of the financial difficulties we are in. I made some brave predictions – I said we will reduce significantly the budget deficit and I said at the same time that we will grow our economy.”
“Mr. Speaker, the Vice-President, Dr. Mahama Bawumia who is the Chairman of the Economic Management Team, has risen to the challenge and the hard work is beginning to show positive results,” he noted.
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.
“The indicators are that it will even be better this year (2018)”, he stressed.
Further to that, he said his administration has been able to increase the country’s international reserves, maintained relative exchange rate stability, and reduced the debt to GDP ratio and rate of debt accumulation.
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”.