President Akufo-Addo to deliver key address on economic outlook on February 27

President Akufo-Addo is slated to present the State of the Nation Address (S0NA) to lawmakers on February 27, 2024, as announced by Ghana’s parliament.

This annual address, mandated by Article 67 of the 1992 constitution, is a crucial opportunity for the President to discuss the economic, social, and financial condition of the nation. With President Akufo-Addo in his final term, this address holds particular significance as it sets the tone for his administration’s closing year, especially in the lead-up to an election year.

Presenting the business statement for the first week following the resumption of the first meeting of the fourth session of the eighth parliament on Tuesday, the Majority Leader, Osei Kyei-Mensah-Bonsu said “In accordance with Article 67 of the constitution, the president will deliver a message and policy statement on the nation to the house on February 27, 2024.”

Some of the bills to be considered in this meeting include Affirmative Action, Ghana Boundaries Commission, Hydro Power Authority and Presidential Transition (Amendment)

These legislative priorities underscore the government’s commitment to addressing critical issues affecting the nation.

Ghana’s recent strides in stabilizing its economy have drawn international attention, with the IMF expressing optimism about the country’s future prospects. Following Ghana’s request for IMF support in July 2022 amidst economic turmoil and external shocks, the nation has made significant progress. A recent IMF disbursement of $600 million under the bailout program, coupled with debt restructuring efforts totaling $5.4 billion with official creditors, marks important milestones in Ghana’s path towards economic recovery and debt relief.

Moreover, the World Bank’s approval of $300 million in funding underscores the international community’s commitment to supporting Ghana’s recovery efforts. This financing is the first installment of a series aimed at bolstering crisis response and resilience in Ghana, reflecting a broader engagement to mitigate the impacts of the economic crisis.

As President Akufo-Addo prepares to address Parliament, expectations are high for policy announcements that will drive economic rebound and foster stability in the face of ongoing challenges.

The forthcoming S0NA will serve as a crucial roadmap for Ghana’s economic trajectory, setting the stage for concerted efforts to secure a brighter future for all citizens.

During this session, a comprehensive line-up of 82 Bills is anticipated to be presented to the House for approval into law.

Among these bills are significant legislative proposals such as the Aged Persons Bill, of 2023, the Advertising Council Bill, of 2023, and the Consumer Protection Bill of 2023.

Additionally, the House will deliberate on private member’s bills such as the Office of the Special Prosecutor (Amendment) Bill, 2021, and the Citizenship (Amendment) Bill, 2023.

Source:norvanreports