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Budget 2018: SHS students can't spell Dumsor anymore : Ofori Atta

By Kwabena Owusu-Ampratwum

SHS students have literally forgotten how to spell "Dumsor" because the NPP government has managed to banish the phenomenon 11 months in administration and Ghana has returned to robust growth with a real GDP growth of 7.8% in 2017 against 20.6% in 2016.

Those are some gains of government the Finance Minister Ken Ofori Atta has been outlining in his presentation of the 2018 budget statement to parliament.

According to him, the government after inheriting an ailing economy has managed to reduce inflation to 11.9% as at now, from over 15% in December 2016. " We have also maintained the stability of the cedi against the US dollar, brought down the policy rate to 21% from a peak rate of 26% in 2016"

He continued that government has normalised the domestic yield curve, issued the country's maiden year bond in April 2017, improved external balances driven by higher export earnings and lower imports and risen gross international reserves to $7.2 billion, equivalent to 4.1 months of import cover, the highest in the country's history.

Mr Ofori Atta said these and much more have resulted in positive sovereign reviews from international credit rating agencies such as Fitch and Standard and Poor. There have also been positive developments in the oil and gas sector some of which are the ITLOS ruling and production from the Sankofa fields.

He said the commitment of government now is to solidify these gains for as long as the NPP remains managers of the economy, "and that may be a long time.".