According to President Nana Addo Dankwa Akufo-Addo, the economy was in dire need of help when he took office on January 7, 2017, and its pace of growth at the time was the lowest in more than 20 years.
But, he said, by dint of hard work, prudence and creativity, the government has managed to turn things around, creating an economy which, for the years 2017, 2018, and 2019, the years before the onset of COVID-19, was amongst the fastest growing economies not only in Africa, but also in the world, recording an annual Gross Domestic Growth (GDP) growth rate of seven percent (7%).
Speaking at the 66th Independence Day celebration on Monday March 6, he said “We were the best place to do business in West Africa, and, in 2021, we were described as the most attractive destination for investments in West Africa.
“The next twenty-two (22) months of my mandate will be focused on restoring the economy we had before COVID and the Russian invasion of Ukraine to the period of rapid growth. It is a solemn pledge I am making to you, my fellow Ghanaians, and one which I am determined to fulfill.
“Before I take my seat, I want for inform you that, in fulfillment of the announcement I made at last year’s Founder’s Day Celebration, I will, on Tuesday, 14th March 2023, confer national honours on some citizens of our country, who distinguished themselves in the fight against the pandemic of COVID-19. By their actions, they helped protect and preserve our population, and won global acclaim for Mother Ghana.”