According to President Nana Akufo-Addo, he took over from John Mahama with a broken-down economy, but he worked hard and ingeniously to turn it into one of the fastest-growing economies in the world before the Covid-19 pandemic and the Russia-Ukraine conflict struck.
“Fellow Ghanaians, there is one thing I want all of us to remember, and that is that when I assumed office on January 7, 2017, I inherited a severely-challenged economy, whose rate of growth, at the time, was the lowest in over two decades,” the president said in his speech at the 66th Independence Day celebration in the Volta Region on Monday, March 6, 2023.
“By dint of hard work, prudence and creativity, we 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 GDP growth rate of seven percent (7%)”, Akufo-Addo elicited.
“We were the best place to do business in West Africa, and, in 2021, we were described as the most attractive destination for investment 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”, President stated.