President Akufo-Addo has expressed confidence that Ghana has turned the corner in its economic situation.
Currently under a three-year IMF program injecting $3 billion into the economy, Ghana faced economic challenges with its public debt reaching 92.4% of GDP in 2022.
The government attributed the economic downturn to the Covid-19 pandemic and the Russia-Ukraine war.
In his Christmas Day message, the President acknowledged the challenges but stated that the situation is improving, expressing hope that with sustained hard work, the country will overcome the difficulties.
“Fellow Ghanaians, I’m particularly glad that our nation has turned the corner following three difficult years we, and indeed the world, have faced. Inflation is being reined in, we’re experiencing a relatively stable exchange rate and growth and our economy is rebounding.”
“We continue to attract investments, domestic and foreign, reinforcing our position as the gateway to Africa and will remain a beacon of democracy, peace and stability in Africa.”
“The country is not yet completely out of the woods, but there is a growing sense of confidence that with hard work and determination, Ghana will make it, and collectively, we will secure our futures,” he said.
President Akufo-Addo has encouraged Ghanaians to reflect on the fundamental principles of Christianity during the festive season and beyond.
“The cardinal principles of Christianity, charity, faith, humility, love and reconciliation should guide us in this festive season and beyond,” he said.