Skip Navigation

'Tackling fundamentals of economy will help create employment' - Akufo-Addo

Jan. 17, 2018, 2:09 p.m.

The President Nana Akufo Addo says to address the problem of youth unemployment, there is the need to tackle the fundamentals of the economy.

He said the situation where so many youths queue up in search of jobs as it happened recently with a number of recruitment exercises is not one to be happy about.

These were among the issues raised in his opening remarks at the Presidential Media Encounter at the Flagstaff House in Accra today.

He said his government is working on these fundamentals resulting in the reduction of inflation to 11.8 percent from the over 15 percent inherited. In addition, the debt situation has improved with 3.1 billion Ghana Cedis being transferred into the Tier Two Account of workers.

In addition, President Akufo Addo stated that contractors who were owed by the government are being paid and nearly 1 billion Ghana Cedis was cleared in 2017. This January alone, 125 million Ghana Cedis have been paid. He said much of the statutory arrears have been cleared and the government’s regimen is to pay government debts as they accrue.

To create more employment, President Akufo Addo says the government is concentrating efforts in growing the SME sector. He added that the private sector tends to have a challenge with expertise and his government is giving them practical help so they can absorb more people.

President Akufo Addo began by saying that he is not there to sing his own praises because it is “vain glory” for one writing examinations to mark his or her papers. He however believes his government has done well to justify the size of government.