Ghana’s President Pledges to Build on Economic Progress of 2017
- Country investing in agriculture, start infrastructure works
- Economic growth of 7.9 percent in 2017 to accelerate
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Ghana’s President Nana Akufo-Addo said efforts to stabilize the economy are beginning to yield results as the rate of debt-growth slowed while the government exceeded targets for keeping spending under control.
The West African nation wants to avoid another bailout from the International Monetary Fund after the current credit facility ends this year, Akufo-Addo, 73, told lawmakers Thursday in the capital, Accra. Ghana’s budget deficit probably narrowed to 5.6 percent of gross domestic product in 2017 from an earlier estimate of 6.3 percent, and reforms in the administration of procurement and taxes are boosting income, he said.