The finance minister of Ghana, Ken Ofori-Atta has credited the Akuffo-Addo government with turning the Ghanaian economy around. Reading his 2022 Economic Policy and Budget Statement in Parliament in Accra, the finance minister said Akuffo-Addo has placed the ailing economy he inherited from the previous governments in good shape and nursed it to good health.
He said, “Mr. Speaker, we know we can get the job done. It is well-known that prior to the pandemic, we had stabilised and turned around the economy between January 2017 and March 2020. We had reversed the worrying economic trend we inherited and placed the country on a path of fiscal sustainability and growth.”
“We doubled the economic growth rate from 3.4 percent to an average of 7.0 percent between that period. It is undisputed that we brought down the fiscal deficit below the 5 percent threshold, we improved our gross international reserves from US$4.9 billion (2.8 months of imports) to US$9.9 billion (4.7 months of imports), we provided free SHS for 1.2 million Ghanaian students,” he added.
The finance minister in reading the 2022 national budget also revealed that Government will abolish the collection of tax and tolls at all public roads and bridges
He said “Mr. Speaker, our roads need fixing. Our roads are being fixed. It is true that more roads have been fixed and are being fixed over the last five years than any relative period in the entire history of our nation. We even want to do a lot more and this budget will cater for this.”
“That is why for decades, the government after the government imposed and maintained tolls on some public roads to raise funds for road construction and maintenance. This is the situation in many countries,” he added.