The President has acknowledged Ghana’s economic struggles in his State of the Nation Address, assuring citizens that his administration is committed to fixing the challenges and setting the country on the right path.

“The true length of a frog can only be determined after its death,” he remarked, implying that his government’s success will be evident in time.

Economic Challenges and Debt Burden

Ghana is grappling with mounting debt, with several state agencies facing serious financial difficulties. Despite previous efforts to clean up the financial sector, it continues to struggle.

The President revealed that the country’s Sinking Fund , when he took over, had $64,000 in foreign currency and 143 million cedis in local currency.

To strengthen financial stability, he pledged to eliminate unnecessary expenditures and build additional buffers in the fund.

Commitment to Bondholders and Economic Dialogue

The government remains committed to honoring its obligations to bondholders. “Every last pesewa due to them will be paid,” he assured.

He also urged opposition parties to participate in an Economic National Dialogue, emphasizing that collaborative efforts are essential for national progress.

Energy Sector Challenges and Interventions

The President acknowledged that several state agencies in the energy sector are struggling to stay afloat. However, he announced that the West African Gas Pipeline Company (WAPCO) pigging exercise will be completed by the first week of March.

To ensure a stable power supply, the government has swiftly mobilized resources for fuel. The administration is also working toward achieving 100% gas utilization for power generation and reviving Ghana’s petroleum sector, particularly in Sekondi-Takoradi.

Boosting Agriculture and Poultry Industry

The President outlined measures to enhance the agricultural sector, stressing that the government’s poultry farm project will boost local industry and reduce dependence on imports.

A Call for Collective Action

“We will work together with Ghanaians to build the nation we all desire,” he concluded, expressing optimism that the sacrifices made today will yield benefits in the future.

With these commitments, the government aims to restore economic stability, strengthen key industries, and create a more resilient Ghana.

End.