President Nana Addo Dankwa Akufo-Addo has affirmed that Ghana's economy is on the path to recovery, signaling a turnaround for growth and development.

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These remarks were made during his address at the Valedictory Service for the outgoing Moderator of the Presbyterian Church of Ghana on Sunday.

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“I want to assure you that the Akufo-Addo government is working hard to return the economy to a high rate of growth and characterize the management of the economy in the years preceding the COVID outbreak in 2020, which made the economy one of the fastest-growing in the world at the time.

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“We can only do so if we forge ahead in unity and faith and have the belief that by the grace of Almighty God, the fortunes of Ghana under the presidency of Nana Akufo-Addo will be restored. I know times have been bad, but it is clear that our economy is rebounding back, and we are turning back the corner to growth and development,” he said.

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He added “To get here, we had to take some difficult and hard decisions. The policies and programs we are implementing are meant to address the challenges, and it is evident that they are doing so.

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“Nevertheless, I will continue to need your understanding and active cooperation. We can make it if all of us work at it.”

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Finance Minister Ken Ofori-Atta has expressed the government's commitment to uphold discipline for the sake of economic stability.

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He noted that the government has navigated through economic challenges and successfully concluded the first review of the 3-year, 3 billion International Monetary Fund External Credit Facility (IMF-ECF) program.

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He further assured that the government is poised to “maintain stability and keep growing. and ensure increased growth, currency stability”

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“We turned the corner when inflation started declining from 54 1 in December to 35.2 in October 2023, he added.

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“The recovery is indeed real and is here to stay,” he further assured.

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Mr. Ofori-Atta went on to say that the ongoing economic recovery is primarily due to the swift implementation of aggressive fiscal and monetary policy measures during the past year and in the first half of 2023.

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“So far, growth in 2023 has been more resilient than expected, inflation has declined in line with the fundamentals, the fiscal and external balances have improved, and the exchange rate has stabilised,” he said.

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