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Past government missed all IMF targets – President Akufo-Addo

President Akufo-Addo has painted a bleak picture of Ghana’s economy describing the current state of the economy as bad.

He said the worst fears of the government had been confirmed.

President Akufo-Addo said the past government missed all the targets set under the IMF programme.

Backing his claims with figures, President Akufo Addo said total projected expenditure for 2016 was 43.9 billion Ghana cedis but actual expenditure was 50.3 billion Ghana cedis.

In addition, the then government also performed poorly in revenue mobilisation.

President Akufo-Addo said Ghana’s total debt stock as at the end of 2016 is estimated at 122 billion Ghana cedis.

This represents provisionally, 74% of GDP. However, the President said he will not allow the economy to collapse under his watch, pledging his commitment to address the deficit.

The President said this when he presented the State of the Nation Address in Parliament today (Feb. 21).


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