Stable Ghana in good health, economy remains strong – President Mills

The state of Ghana is stable and is in a reasonable good health, President John Atta-Mills told lawmakers in Accra February 16, 2012 when he delivered the state of the nation address.

According to President Mills, the economy has made some progress and it has remained strong during his tenure.

His said the country is moving forward in the right direction.

Recalling the achievement of the country’s economic growth in recent times, the President said Ghana recorded the highest economic growth in the history of the nation. “It approached a growth close to 14% in 2011,” President Mills said.

He stated that inflation which has remained in single-digit of 8.5% end 2011 is sustainable. “It is the longest sustainable inflation in the last 47 years since 1970,” the President added.

The achievements of the economy have boosted investments into the country, according to President Mills indicating that the foreign direct investments (FDI) recorded in 2011 was GH¢7 billion.

Due to the implementation of the single spine salary pay policy, Prof. Mills said Ghana’s wage bill has increased to GH¢5 billion.

He said the minimum wage has been increased from GH¢2.55 to GH¢ 4. 48.

The Bank of Ghana (BoG) in December 2011 described the country’s economy in the year 2011 as a good one.

“I think it has been good,” the BoG governor, Kwesi Amissah-Arthur told journalists in Accra December 21, 2011 when asked about the performance of the economy for the year 2011.

All the economic indicators have shown positive signs, he noted. There has been continued momentum in the economic activity of the country, according to the BoG.

By Ekow Quandzie