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Ghana is not broke – President Akufo-Addo asserts

President Akufo-Addo in his last State of the Nation Address in Parliament of Friday, January 3, 2025 has asserted that the economy he has presided over and handing to the president-elect John Mahama is not broke.

“Mr Speaker, the country is not broke, as some propagandists want us to believe. We are handing over the country with Gross International reserves of almost eight billion United States dollars ($8 billion. This is more than the six-point-two-billion United States dollars ($6.2 billion) of Gross International Reserves my administration inherited in 2017.

Economic growth has also returned to the pre-COVID trajectory, with an impressive growth rate, rising from four-point-eight-percent (4.8%) in the first quarter of 2024; seven percent (7%) in the second quarter and seven-point-two percent (7.2%) in the third quarter.

It is projected that this year’s growth rate will be six-point-three-percent (6.3%), significantly higher than the three-point-four percent (3.4%) my administration inherited in 2017.”

According to him, the growth of the economy is further reflected in the growth of private sector credit which in nominal terms grew by twenty-eight point eight seven percent (28.87%) in October 2024, compared to the negative seven-point five percent (-7.5%) growth recorded in the same comparative period of 2023. In real terms, growth in credit to the private sector improved to five-point five percent (5.5%) compared to a contraction of thirty-one-point six percent (31.6%) recorded in October 2023.

It is further reinforced by improved external balances, with the current account balance improving significantly to a surplus of two-point six percent (2.6%) of GDP in the first nine months of the year, compared to a deficit of six-point six percent (6.6%) of GDP in 2016.

The trade balance, he noted has also improved, and stands at a surplus of three point eight five billion US dollars ($3.85 billion), compared with a deficit of one point eight billion US dollars ($1.8 billion) in 2016. Headline inflation, which stood at twenty-three percent (23%) in November, is still very high, but this is coming down from fifty-four percent (54%) recorded in December 2022 following the effects of COVID-19 and other global economic pressures. Encouragingly, food prices have also begun to decline, bringing some relief to households and contributing to a reduction in the overall cost of living.

Government has implemented significant measures to address the hardships that accompanied the economic difficulties including increased budgetary allocations towards the School Feeding Programme, Capitation Grant, National Health Insurance Scheme, and the Livelihood Empowerment Against Poverty programme.

“The stock of public and publicly guaranteed debt increased during the economic difficulties. However, the government is servicing its debts, honouring coupon payments for both domestic bonds and Eurobonds. Moreover, the debt levels are reducing, recording a significant reduction in the debt stock by forty-six point eight billion Ghana cedis (GH₵46.8 billion) to seven hundred sixty-one point zero one billion Ghana cedis (GH₵761.01 billion) in October 2024 from eight hundred seven point seven nine billion Ghana cedis (GH₵807.79 billion) in September 2024. The public debt-to-GDP ratio, therefore, reduced from seventy-nine-point two percent (79.2%) in September 2024 to seventy-four-point six percent (74.6%) in October 2024. This is expected to reduce further to fifty-five percent (55%) of GDP in net present value terms, a level that restores Ghana’s debt sustainability. It is hoped that the new government will continue with the policies being implemented to achieve this debt sustainability target”, he added.

Ghanamps.com

I leave behind a Ghana that is working– President Akufo-Addo

President Akufo-Addo in a rather solemn farewell to Ghanaians as he addressed the nation in his last State of the Nation Address told Ghanaian how satisfied he is to be leaving behind a thriving country, secured and safe.

“Mr. Speaker, I am happy to hand over a Ghana that is safe, secure, united and firmly rooted in her attachment to democratic principles and respect for the rule of law—a nation that continues to shine as a beacon of peace and stability in an often-troubled Africa and an uncertain world.”

I leave behind a Ghana that is thriving, one that has navigated significant global challenges with remarkable tenacity, whose economy is steadily rebounding, and whose institutions are operating effectively.

It is a Ghana where the youth are being empowered with opportunities to channel their energies into meaningful and productive endeavours, where the arts are beginning to flourish, and where the elderly can grow old in safety and dignity, and continue to make meaningful contributions to society. I leave behind a Ghana that is working, he added.

According to him, bowing out in the knowledge that the nation will go from strength to strength, and that freedom and justice has taken hold forever in our body politic.

Commending the people of Ghana for the trust and confidence reposed in him over the last eight years, he said serving as President has been the highest privilege of his life; adding that he has done so with unwavering commitment, boundless energy, and a deep love for Ghana, always guided by the belief that our nation’s best days lie ahead.

“Reflecting on this journey, I am filled with pride for what we have accomplished. From the transformative policies in education and healthcare to the strides in agriculture, digitilisation, energy, governance, infrastructure, industry and trade, these achievements are not mine alone, they also belong to every Ghanaian who has contributed to the collective effort of nation-building. We have demonstrated that, through unity, resilience and determination, we can overcome even the greatest challenges. I am confident that the progress we have made will inspire future generations to dream bigger, aim higher, and achieve more for our beloved Ghana.”

Ghanamps.com

All is set for today’s SONA; Akufo-Addo’s last to the Nation

All is set for the President of the Republic, HE Nana Akufo -Addo to deliver his last State of the Nation address today in parliament.

As indicated earlier, security has been high since Thursday, when parliament reconvenes from the Christmas break.
This morning, the diplomatic corps and other invited guests are already seated awaiting the rival and commencement of proceedings for the day.

The President’s last SONA will pave the way for the dissolution of the 8th Parliament of the 4th Republic on January 6th 2025, and to be followed immediately by the inauguration of the 9th Parliament.

On the 7th of January, 2025, the President -elect, John Dramani Mahama and his Vice, Jane Nana Opoku Agyeman will then be sworn into office for the next four years.

Meanwhile, parliament yesterday successfully passed the Mini-budget of over GHc68 billion for the first quarter of 2025.

This has been a lingering issue prior to the House adjourning in the later part of December.

Ghanamps.com

8th Parliament to be dissolved on Monday January 6, 2025

The Committee set up by Rt. Hon Speaker and leadership of the House to see to the dissolution of the current 8th Parliament; inauguration of the 9th Parliament; and swearing in of the President-elect and Vice President has indicated that plans are far advanced to ensure that the above objectives are achieved.

According to the Deputy Clerk on Legislative Management Services, Carmilo Pwamang the 4th Republican Parliament has over the years had very successful transition from one parliament to the other which has been open and transparent and were counting on the media in parliament to bring this to the notice of Ghanaians.

“We have started the registration of MPs online, then the MPs-elect will come in person for their biometric data to be captured which started on Thursday January 2, 2025; then today, Friday, January 3, 2025  the President will come before Parliament to give his message on the state of the nation; the last leading to the dissolution of the parliament.”

He further pointed out that, over  the years Parliament has   not been having formal dissolution but  under the new standing orders we should have a formal dissolution of Parliament that will be done on the January 6, 2025 and will be done in the chamber the start time is 10:00am.

In a media briefing on Thursday, January 2, 2025, he pointed out that inauguration of the 9th Parliament will start with the election of the Speaker by members elect of the 9th Parliament, adding that they will be in the chamber at 11:00pm such that they will finish the process by midnight leading to the January 7, 2025 morning for the new parliament to be sworn in and that will take place in the chamber and in the morning of January 7,2025.

“We will have the swearing in of the president and vice president elect which will take palace at the independence square at 10:00am. We want you to bring this to the attention of members of the general public and we hope your reporting will continue to promote understanding and unity of our parliamentary democracy”, he added.

Kwaku Sakyi-Danso/Ghanamps.com

Parliament approves GHc68 billion for first quarter of 2025

Members of Parliament (MPs) on Thursday, January 2, 2025 approved a total of GH₵68,134,674,527 for the first quarter of 2025.

Funds are to be allocated across various sectors of the economy between January and March this year.

According to the mini-budget for 2025, the new John Mahama administration plans to spend GH₵16,462,828,490 on compensation for employees.

Expenditure on goods and services is set at GH₵3,123,221,785, while interest payments will cost the nation GH₵20,691,523,500.

Other expenditures include GH₵45,507,080 for subsidies, GH₵9,193,773,211 for grants to other government units, and GH₵234,703,983 for social benefits.

Additionally, other government expenditures are expected to amount to GH₵5,293,248,499.

This brings the total expenditure for the first three months of the year to GH₵64,508,623,999.

Furthermore, the new government will allocate GH₵2,345,505,925 for arrears clearance and GH₵1,280,544,603 for amortization.

In total, the state’s expenditure in advance of appropriation stands at GH₵68,134,674,527.

Ghanamps.com

Non-working air-conditioners: MPs lament

Members of Parliament on the Minority side with offices at the third floor, East of Job 600 are unhappy with a faulty and non-functioning air-condition in their offices thus making working in the offices very difficult.

Member of Parliament for Keta, Kwame Dzudzorli Gakpey in an interview with Ghanamps.com on Thursday, January 2, 2025 noted that they are unable to seat in their office since the air-condition has not been working for some time now.

According to him, several complains for the situation to be remedied has since not yielded any positive result.

Kwaku Sakyi-Danso/Ghanamps.com

Environmental Protection Bill passed

The Environmental Protection Bill, 2024 has been read the third time and passed on, Thursday, January 2, 2025.

The Bill seeks to establish the Environmental Protection Authority (EPA) to regulate, protect, and exercise general oversight and coordination over all matters relating to the environment and climate change.

It also seeks to re-enact the Environmental Protection Agency Act, 1994 (Act 490) and introduce a Pesticide Management Fund as well as re-enacts the Hazardous and Electronic Waste Control and Management Act, 2016 (Act 917) for consolidation.

Additionally, it makes provision for the implementation of actions that position Ghana to mitigate and adapt to climate change.

Ghanamps.com

Media accreditation to be ready by close of day Thursday

The planning committee for the inauguration of the 9th Parliament and the swearing in of President-elect John Dramani Mahama chaired by Gifty Twum Ampofo has given assurance that media accreditation for journalists will be ready for collection by close of day, Thursday, January 2, 2025 at a media briefing.

According to the Committee names of journalists within and outside Parliament are being compiled where a link would be sent out for them to upload their pictures for printing.

In addition to question on preparation so far done, it was pointed out that names of journalists will be entered into a data system and printing of ID cards done within the shortest possible time.

It was further stated that media Houses that intend to do live broadcast should set up in Parliament by close of day on Thursday, January 2, 2025 as opportunity will not be given on Friday, December 3, 2025 when the President Nana Akufo-Addo deliver his final State of the Nation message.

On the issue of heavy military and police presence in Parliament it was pointed out that they are in to help parliament security beef up security till January 7, 2025.

Kwaku Sakyi-Danso/Ghanamps.com

Parliament reconvenes amidst tight security

Parliament is reconvening today, January 2, 2025 amidst tight security all over the place.

A joint Police and Military Police personnel are currently busy with their sniffing dogs moving from office to office to ensure no threat is left undetected.

This development is expected as the parliament will in few days also host the President of the land, HE President Akufo-Addo as he delivers his last States of the Nation address.

The 8th parliament is winding up its activities to make way for the inauguration of the 9th parliament on January 6, 2025.

Though details are sketchy on the actual businesses to be transacted within this period, one issue that is lingering and of almost importance to the running of government machinery in the year has to do with the Mini-Budget to be presented by the Finance Minister on behalf of the president for the first quarter of 2025.

Though the Finance Minister failed to fulfilled this duty prior to the adjournment, the Majority Leader, Alexander Afenyo-Markin blamed the conduct of the Minority for the shortfall and assured that government was willing to ensure this is done, and added that anytime parliament was recalled the finance Minister would be ready to fulfill.

  There are also some outstanding businesses for consideration by the House including Tax waiver for One District One Factory Companies.

Ghanamps.com

Majority Women caucus appeals to NPP NEC to maintain leadership in Parliament

The Majority women caucus of the 8th Parliament of the fourth Republic is appealing to the National Executive Council of the ruling New Patriotic Party (NPP) to maintain the current leaders in the new 9th Parliament yet to be sworn in.

At a press conference addressed by Shella Battels and flanked by the Sanitation and Water Resources Minister Lydia Alhssan Syram and Gifty Twum they appealed to NEC of NPP who will be meeting on Thursday, January 2, 2025 to maintain the current leadership of the Majority in the 9th Parliament as follows:

Minority Leader, Alexander Kwamena Afenyo-Markin; Deputy Minority Leader, Patricia Appiagye; Minority whip, Frank Annoh Dompreh.

They further pointed out that with the passage of the Affirmative Action Bill into law with the president Nana Akufo-Addo assenting to it, it has been a long and difficult journey, more especially ensuring female representation.

Previously, the caucus noted that when one looks at the front bench of the NPP, it was made up of only men hence the need to have a female at the front bench.

“We will not accept anything less than a woman in the leadership of the 9th Parliament from the National Executive Council of the NPP as they meet on Thursday, January 2, 2025 to take a decision”, the group asserts.

Kwaku Sakyi-Danso/Ghanamps.com