Accra, Oct. 27, GNA – President Nana Addo Dankwa Akufo-Addo will speak to the nation on the economy tonight at 2000 hours.
The President’s address is expected to focus on the soaring cost of living, and the needed fundamental change and reforms to revive economic growth.
Ahead of a three-day cabinet retreat that started Thursday, to resolve the pressure on the economy, the President held consultations with economic players and stakeholders to get their input into a rave of decisions that would be adopted at the meeting.
The country has witnessed soaring food prices, steep depreciation of the cedi and the rising cost of fuel, sparking public outcry for an improved economy.
Following these economic shocks, the government has applied for a three-billion-dollar support programme from the International Monetary Fund (IMF) to enable Ghana to deal with the balance of payment, stem the depreciation of the cedi and generally help stabilize the economy and place it back on a firm trajectory of growth.
The President had told the stakeholders Wednesday that the government was on the cusp of concluding negotiations with the IMF for a lifeline to enhance economic reforms and maintain a sustainable economic growth rate in the long term.
He indicated that the Cabinet retreat would deliberate on the revival of the economy and tackle the snags in negotiation with the IMF as talks near completion.
“Government is going on a three-day retreat to tackle this problem of the negotiation with the IMF and the making of the economic policies for the country for 2023 to present the budget for the nation to Parliament.
“We are talking and hopefully concluding soon these important negotiations, which are going to have an important impact on the way forward for the Ghanaian economy in the months and immediate years ahead,” he told the stakeholders.
The President is optimistic that optimistic the present economic situation would be reversed.
His address on the economy would be broadcast live on major news outlets across the country.
GNA