President Nana Addo Dankwa Akufo-Addo last Friday delivered his last State of the Nation Address to Parliament.
This was in accordance with Article 67 of the 1992 Constitution which mandates that the President at the beginning of each session of and dissolution of Parliament, deliver to Parliament a message on the State of the Nation.
The President's delivery focused on the government's performance over the period with special emphasis on macroeconomic indicators.
President Akufo-Addo noted that the economy had witnessed dramatic rebound stressing that "Ghana is not broke as the propagandists would want the citizenry to believe."
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He explained that the economy which was devastated by the Coronavirus pandemic and the Russia invasion of Ukraine has recovered.
"Mr Speaker, the country is not broke as some propagandists would want us to believe. We are handing over a country that has about US$8 billion in gross international reserves. This is a big increase from the US$6.2 billion in reserves inherited in 2017. Economic growth has also returned to pre-Covid trajectory with an impressive growth rate, rising from 4.8 in the first quarter of 2024, seven per cent in the second quarter and 7.2 in the third quarter," President Akufo-Addo stated.
The economic growth, in his view, reflected in the growth of the private sector which stood at 28.87 in October 2024 compared to the negative 7.5 growth recorded in the same period in 2023.
External balances, the president told lawmakers recorded a surplus of 2.6 per cent in gross domestic product in the first nine months of 2024 compared to a deficit of 6.6 per cent of GDP in 2023.
"In the same way, the trade balance has improved and stands at a surplus US$3.85 billion to a deficit of US$1.8 billion in 2016," he added.
He said despite inflation still high at 23 per cent at the end of the year, food prices have begun to decline, bringing relief to households and contributing to a reduction in the overall cost of living.
All the enhanced economic figures, President Akufo-Addo said indicated that he was handing over "a Ghana that is working".
This, he said were evident in his government's transformative policies in education, healthcare, agriculture, digitisation, energy, governance, infrastructure, and trade.
"These achievements are not mine alone. They also belong to every Ghanaian who has contributed to the collective effort of nation-building. We have demonstrated that, through unity, resilience, and determination, we can overcome even the greatest challenges," the President said.
Expressing optimism about Ghana's future, Mr Akufo-Addo cited the steady economic rebound, thriving institutions, and a secure, democratic environment, underscoring empowerment of the youth, a flourishing arts industry and the safety and dignity of the elderly in society.
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"I am happy to hand over a Ghana that is safe, secure, united, and firmly rooted in democratic principles and respect for the rule of law. It is a Ghana that has navigated significant global challenges with remarkable tenacity, whose economy is steadily rebounding, and whose institutions are operating effectively. I leave behind a Ghana that is working," he stated.
The President was hopeful future generations would build on the foundation he had laid for the betterment of the country.
"I take my final bow in the certain knowledge that our nation will go from strength to strength and that freedom and justice have taken hold forever in our body politic," he concluded.
