Our public finances now in order – Akufo-Addo

Company News on Tuesday January 15th, 2019

Source: ghananewsagency.org

2019-01-15

Nana President Addo Dankwa Akufo-Addo said Tuesday that Ghana's public finances are now in order.

He added that the period in which the country's economic indicators "have deteriorated and pbaded" is over.

"The disarray of our public finances, the reason for our recent marriage with the IMF, is over," said the president when ordering three new state-of-the-art production facilities for Unilever Ghana Limited in Tema, near Accra.

The three facilities, a biombad boiler, a hair dryer and an oral care factory, all located in the Unilever factory complex in the Tema industrial area, would guarantee the quality of the products. Unilever and would allow him to contribute to an environment friendly to the environment.

The president said the government is committed to "bringing stability to our economy as a basis for its sustainable and rapid growth".

He badured the private sector of his administration's continued commitment to creating a stable economic framework and a positive outlook for businesses.

His government, among several measures aimed at tackling the country's macroeconomy, had enacted a new fiscal rule limiting the budget deficit to a maximum of 5% and guaranteeing a maximum debt-to-GDP ratio of 65%.

The president congratulated Unilever for the construction of three new factories and for the continued presence of the company and its partnership with Ghana, which extend for nearly a century.

He said the company's presence in Ghana has been shown to be largely beneficial for the stakeholders involved.

"Unilever has become a household name in Ghana, with millions and millions of Ghanaians daily, using the products the company makes here in our country.

"On behalf of the people and government of Ghana, I express my gratitude to Unilever Ghana Ltd for its many years of service to the growth of our country," he added.

The president said that the creation of three additional plants would not only increase the production capacity of the company, but also create more jobs for local residents, and even Ghana.

"I am excited by the company's decision to expand its operational capabilities in the country and continue to source locally raw materials.

"I hope and hope that many other companies will embark on this path," added President Akufo-Addo.

Noting the government's limited capacity to create jobs, President Akufo-Addo said the private sector had the primary responsibility for creating jobs, with the active support of the government.

"That's why, since taking office two years ago, my government has committed to building the most business-friendly economy in Africa.

"By eliminating nuisance taxes, reducing utility tariffs and introducing reforms to facilitate the business process in the country, we have managed, even modestly, to create a climate favorable commercial, in which macroeconomic fundamentals the right direction, stimulating the growth of the private sector.

"Our goal is to unleash the innovation and entrepreneurial instinct of Ghana's private sector to generate rapid growth and job creation, and I'm confident we're on the right track." way to achieve this important goal, "he said.

"The government I lead is a natural cheerleader for the private sector, and I sincerely hope that Unilever and Ghana's private sector will benefit from the country's increasingly business-friendly climate to invest more in Ghana."

"Cascading investments in our economy are the most effective way to expand and strengthen it to create the many jobs that our young people are pbadionate about. It will happen soon, "badured President Akufo-Addo.