President Nana Akufo-Addo says he has grown Ghana’s economy which was in a precarious state before he was sworn into office.
“I am happy to report that all the indicators are pointing in the right direction. GDP growth rate has more than doubled from 3.6 per cent in 2016, the lowest in two decades, to 8.5 per cent in 2017. Inflation has reduced from 15.4 per cent at the end of 2016 to 10.4 per cent in March 2017,’ he said while addressing workers at the Babayara sports Stadium in Kumasi to commemorate the 2018 National May Day.
The president said the economic indicators are pointing in the right direction following the decline of interest rates with a fiscal deficit reduced from 9.3 per cent in 2016 to 5.6 per cent in 2017.
The president further noted the rolling out of good policies have contributed to the growth of the Gross Domestic Product (GDP), making it double in the last 16 months and will help the industrial sector record a remarkable growth.