President Nana Addo Dankwa Akufo-Addo says that, his government has a clear vision on where it is taking the country, saying that by the end of his mandate, Ghana would have emerged a very prosperous nation.
So far, his government, he said, has over the last two and half years made significant progress in all aspects of the economy and was working to put the country, on the path of progress and prosperity.
The President said this, when he addressed participants at the 2nd Ghana Diaspora Homecoming Summit at the Accra International Conference Centre.
He further said that, although his administration inherited an economy confronted with significant challenges, significant progress had been made, with the macroeconomic fundamentals now pointing in the right direction.
“By dint of hard work and prudent management of our resources, we have made modest advances, and I am happy to report that we have been able to steer our country out of the stormy waters that had characterised the years before 2017,” he said
“Ghana is projected, this year, by the IMF, to be the fastest-growing economy not just in Africa, but in the entire world, with a projected GDP growth rate of 8.8%. Inflation is in single digits, from 15.4% at the end of 2016 to 9.5% in April 2019, the debt-to-GDP ratio has declined to 54.8% at the end of 2018, interest rates are declining, and so is the Bank of Ghana’s Monetary Policy Rate,” he added.
President Akufo-Addo explained that Ghana’s trade balance, for the first time in more than a decade, recorded a surplus in 2017, maintained it in 2018, and, in the first quarter of this year, has recorded a surplus of $ 899 million.
“It comes as no surprise therefore that, today, Ghana is the leading recipient of foreign direct investment in West Africa. Indeed, we have some of the world’s largest companies setting up shops in Ghana and we have recently, become the largest producer of gold in Africa,” he said.
The President asked all Ghanaians, including those in the Diaspora, to join hands with his government to deliver progress and prosperity to every part of Ghana.
“I am certain that together, we can transform Ghana and use all the blessings that the Almighty has bestowed on us to bring wealth to our people and nation.”
President Akufo-Addo further stated the critical importance of those in the diaspora to the economic fortunes of Ghana, adding that, immense benefits from remittances had contributed to the growth of economies like China, Kenya, Israel and Ethiopia.
“History tells us of the impact of diaspora communities to the growth and development of countries. To increase trade activities, rising investments in the transfer of skills and knowledge. I believe that beyond the remittances that you bring back home, you the diasporas have a critical role to play towards the growth and development of Ghana”, he said.
The President assured the gathering that the Office for Diaspora Affairs was working on a diaspora engagement policy bill, which is to help deal effectively with all matters affecting all overseas Ghanaians. He added that, he looked forward to the bill, to be brought before Cabinet, to work on it and expeditiously lay it before Parliament.
On the political rights of dual citizens, he said, Parliament in its power, would decide that.