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Address By the President Of The Republic-Nana Addo

President Akuffo Addo to Address the Nation on the Economy – What We Can Expect

President Akuffo Addo to Address the Nation on the Economy - What We Can Expect

President Akuffo Addo to Address the Nation on the Economy – What We Can Expect.

Ghana’s President Nana Akuffo-Addo will be addressing the nation on the state of the economy on Sunday, October 30, 2022, at 8 pm.

This president will be addressing the nation since being sworn in as president in January 2017 and represents an opportunity to get a sense of what we might be able to expect in terms of economic policy going forward.

We have gathered together some information that should help you understand what’s happening with Ghana’s economy right now and where it may be headed next.

Things To Know About The State Of The Ghanaian Economy

1. Ghana’s economy is growing at a rate of 6.9% annually.
2. The country’s growth has been largely driven by improvements in the service sector, which makes up 60% of its economy, and in agriculture, which represents about 20%.
3. A recent study found that nearly half of all households surveyed in Ghana said their economic situation was good or very good.

A Bit of History

Ghana is in an economic crisis. It has been since 2017, which is when it was downgraded to a junk status by Moody’s Investors Service.

A few years ago, it was announced that President John Dramani Mahama lost the seat from office and giving way for Nana Akufo-Addo, who won presidential elections in December 2016.

Fuel Subsidy: What Happened and Why?

In order to increase transparency in the system, President Nana Akufo-Addo announced that fuel subsidies would be gradually phased out.

This was a bold move by the president as his predecessor, John Mahama, had promised several times not to remove fuel subsidies during his presidency.

However, this decision is in line with Ghana’s commitment at the 2017 United Nations Climate Change Conference (COP 21) and will have a positive impact on our environment and economy.

How Will We Pay For This And Other Expenses Now?

This is a tough question to answer. One of the ways we can pay for this and other expenses now is by not spending so much in areas where we don’t need to.

For example, if you don’t need those new clothes, or if you don’t really need that expensive haircut, then maybe you should reconsider spending that money.

How Will This Affect the Poor?

The President of Ghana, Nana Akufo-Addo, is set to give an address about the current economic situation in Ghana.

He will be addressing a country that has been hit hard by falling commodity prices and reduced foreign investments, leading to a significant devaluation in the currency and a spike in inflation.

The president has promised that his administration will take action to improve economic growth and diversify away from relying on oil and gas exports.

How Will This Affect My Daily Life?

The President will be addressing the nation on Sunday, October 30th at 8:00pm Ghana time. This is a big deal because it is not every day that a president addresses the country live and in person.

There are many things people are speculating about what President Akuffo-Addo might say in his address and we will have to wait until Sunday to find out. However, there are some things that we can expect.

How Can I Reduce This Impact On My Life?

As a Ghanaian, you want your country to succeed. You want your family and friends to be able to work in their chosen fields and make a living wage.

You want hospitals that are clean, public schools that offer quality education, and roads that don’t have potholes big enough for small cars.

You may ask yourself: how can I reduce this impact on my life? Well, there’s good news. It starts with voting in this years election.

FAQs

-What is President Akuffo Addo’s background?

The President is a trained lawyer and served as Minister of Foreign Affairs from 2001 until 2005. He was also Minister of Justice from 1993 to 1996.

-What do you think he will say in his speech?

In his election campaign, President Akufo-Addo pledged to create 100,000 jobs in five years and reduce unemployment by 10% within two years.

Recommended reading: Registration for Ghana Teacher Licensure Examination 2022 

Read also: The Presidency, Republic of Ghana: Home

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