President Nana Addo Dankwa Akufo-Addo will, on Friday, January 3, 2025, deliver his final State of the Nation Address (SONA) to Parliament.
A key focus of the President’s address is expected to be the state of Ghana’s economy. Topics likely to be highlighted include the country’s macroeconomic indicators, Gross Domestic Product (GDP) growth, inflation, gross international reserves, policy objectives, job creation, and infrastructural development across various sectors.
The exercise is in accordance with Article 67 of the 1992 Constitution.
“Our economy is rebounding impressively, as demonstrated by the remarkable 7.2 percent growth achieved in the third quarter of 2024, with the year’s growth rate projected at 6.8 percent.
“These achievements are not just numbers or statistics; they are stories of lives changed and futures made brighter,” the outgoing President stated in his recent New Year message.
In his penultimate SONA, delivered last year, he noted that the macroeconomy was significantly stronger at the end of 2023 compared to 2022.
Inflation, which peaked at 54.1 per cent in December 2022, had reduced to 23.5 per cent by January 2024. President Akufo-Addo further highlighted that real GDP growth for the first three quarters of 2023 averaged 2.8 per cent, surpassing the targeted growth rate of 1.5 per cent for the year.
On the performance of the cedi, he stated that it had remained largely stable since February 2023, with a cumulative depreciation of 9 per cent between February and December 2023.
