President Nana Addo Dankwa Akufo-Addo will deliver his final State of the Nation Address to the 8th Parliament of the 4th Republic on Friday, January 3, 2025, at 10:00 a.m. His speech is expected to have significant implications for the Ghana Economy 2025.
This constitutionally mandated address, in accordance with Article 67 of the 1992 Constitution, will provide a comprehensive overview of the current state of affairs, marking the culmination of his administration’s tenure and the transition to the next Parliament.
The address comes at a pivotal moment for Ghana, as the nation grapples with significant economic challenges and opportunities. Observers are keen to see the strategies for Ghana Economy 2025.
With inflation currently hovering around 23% as of November 2024, according to the Ghana Statistical Service, and projected GDP growth of 4.4% for 2025 per the International Monetary Fund, expectations are high for the President to reflect on economic policies implemented under his administration and their outcomes. Key economic indicators will shape the outlook of the Ghana Economy 2025.
The speech is likely to address key issues such as debt restructuring progress, the ongoing IMF program, and strategies to boost local production and exports to stabilize the cedi, all of which are crucial for Ghana Economy 2025.
Economic Challenges and Progress
Ghana’s economy has faced turbulent times in recent years, with high inflation, a depreciating currency, and rising public debt taking center stage. The government’s debt restructuring program and fiscal consolidation measures under the Extended Credit Facility have been critical in attempting to restore macroeconomic stability.
President Akufo-Addo’s address will provide an opportunity to discuss ongoing efforts to stimulate growth and reduce unemployment, which has remained a pressing concern.
With youth unemployment still alarmingly high, many Ghanaians are hopeful that measures to attract foreign investment and boost private sector productivity will feature prominently in the address.
The upcoming dissolution of the 8th Parliament on January 6, 2025, and the inauguration of the 9th Parliament on the same day, signifies a new chapter in Ghana’s governance.
Newly elected Members of Parliament will also be sworn in, with the election of the Speaker and Deputy Speakers marking the commencement of a new legislative session.
