Prime News Ghana

Akufo Addo reaffirms commitment to creating a stable microeconomic environment

By Justice Kofi Bimpeh
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President Akufo Addo in picture with staff of Unilever Ghana

President Akufo Addo has reaffirmed his commitment to creating a stable microeconomic environment for businesses in the country to thrive.

The President speaking on Tuesday at the commissioning of a biomass boiler, a personal care dryer, and an oral care factory of Unilever Ghana Ltd. in Tema said: “We are determined to provide stability to our economy to serve as the foundation for its sustainable and rapid growth”.

According to him, “the days when economic indicators went haywire and through the roof are over. The days of disarray in our public finances, the reason for our recent ‘marriage’ with the IMF, are over.”

He explained that a new fiscal rule, which caps the fiscal deficit at a maximum of 5 per cent and ensures a debt-to-GDP ratio of a maximum of 65%, has been enacted.

In addition to this, he indicated that he established, in December 2018, the Presidential Fiscal Responsibility Advisory Council, composed of independent-minded, renowned economists, and the Presidential Financial Stability Advisory Council, made up of heads of the key regulatory agencies of our financial system, to advise and assist him achieve these targets.

“We are determined to provide stability to our economy to serve as the foundation for its sustainable and rapid growth,” he added.

Describing the commissioning of the three new factory plants as a happy day not only for Unilever, but also for our nation, the President commended the company for its continued presence in, and partnership with Ghana, spanning nearly a century and has proved to be largely beneficial for the stakeholders involved.

“Unilever has become a household name in Ghana, with millions and millions of Ghanaians, on a daily basis, using products the company manufactures here in our country.

“On behalf of the Ghanaian people and their government, I express the appreciation of the nation to Unilever Ghana Ltd for its many years of service to the growth of our nation,” he added.

As co-Chair of the Eminent Group of Advocates of the 2030 United Nations Sustainable Development Goals, the President also commended Unilever for its “Unilever Sustainable Living Plan (USLP)”.

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