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NANA FACES MEDIA - Over one year stewardship

General News

President Nana Addo Dankwa Akufo-Addo will today meet the media to account for his one year stewardship as the President of the nation.

President Nana Addo Dankwa Akufo-Addo will today meet the media to account for his one year stewardship as the President of the nation.

 

The programme, scheduled to come off at the Banquet Hall of the Flagstaff House at 11.30am, will see the President throw more light on some of the key policies that have been implemented by his administration over the past year.

The government’s first budget statement, christened ‘Asempa Budget’, brought relief to Ghanaians by stabilizing and putting the economy on the track to development.

The 2017 budget saw the review and abolition  of some taxes in the aviation, finance and real estate sectors, all aimed at providing a friendly  business environment.

Notable among them were the taxes on ‘kayayeis’ and duties on spare parts which were all abolished.

President Nana Akufo-Addo also walked his talk by launching and implementing one of his key policies: free Senior High School.

Launched at the premises of the West Africa Senior High School in Adenta, over 420,000 students in various secondary schools are enjoying the policy.

“I want every Ghanaian child to attend secondary school not just for what they learn in school, but for the life experiences that they will gain. I want each of them to look in the mirror in the morning, every morning, and know that they can achieve anything they dream of when they complete their studies,” President Nana Akufo-Addo said when he launched the policy.

With the government’s determination to digitize the economy as part of its transformational agenda, the National Digital Addressing System was launched.

The system is expected to give the country an accurate database of addresses.

“From today, every land or property will be assigned a unique identifier. This will facilitate improved ownership data and unique identification or properties and persons.” These were the words of President Nana Akufo-Addo during the launch.

The government in the 2017 budget committed to reduce the fiscal deficit from 9.3% to 6.3% of GDP despite the challenges the NPP government faced in its first year including revenue generation.

In the agriculture sector, the Planting for Food and Jobs policy was carried out despite the challenges of Army Worm. Many farmers showed interest in the policy and had seedlings distributed to them.

In 2017, the country saw a growth in agriculture from 3.0% in 2016 to a projected 4.3% in 2017.

Industry growth, under the NPP government’s first year, increased from -0.5% in 2016 to 17.7% at the end of September 2017 underpinned by increased petroleum production.

That aside, with prudent economic measures, inflation also declined from 15.4% in 2016 to 11.8% in 2017, while the Bank of Ghana Monetary Policy Rate saw a year-on-year reduction from 25.5 percent by end-2016 to 20 percent by end-2017.

In addition, Ghana’s external payments position has strengthened. The trade account recorded a surplus of $646 million (1.4% of GDP) as at September 2017 compared to a deficit of $2.0 billion (4.7% of GDP) for the same period in 2016.

Gross international reserves increased from $6.2 billion in December 2016 (3.5 months of imports) to $7.4 billion as at 24th November 2017 (4.1 months of imports).

Ghana’s sovereign credit rating has improved with Fitch ratings changing Ghana’s B rating outlook from “Negative” to “Stable” while S&P changed Ghana’s outlook from Stable to Positive. The primary balance also posted a surplus for 2017 compared to the deficit recorded in 2017.

Another campaign promise of the NPP, the restoration of allowances to nurses and teachers in training, also was honoured by the government.