SONA was Akufo-Addo’s self congratulatory note… economic fundamentals unaddressed- Dr Sam Ankrah

By: Doreen Boamah-Darko

Dr. Dam Ankrah, an Independent Presidential Aspirant, has strongly criticized President Nana Addo Dankwah’s state of the nation’s address, describing it as self-congratulatory and failing to address the pressing economic issues facing ordinary Ghanaians. In a scathing response to the President’s speech delivered to parliament yesterday, Dr. Ankrah highlighted a myriad of weaknesses in the Ghanaian economy that have left the population struggling and poorer than ever before.

State of the Nation Analysis:
Weaknesses:

1. High inflation rate, which has been persistently above the target range of 6-10%.
2. Persistent fiscal deficits, leading to a high public debt burden.
3. Low revenue generation, with tax revenue as a percentage of GDP being lower than
   the average for sub-Saharan Africa.
4. High interest rates, which have been above the target range of 8-12% for an
   extended period.
5. A weakened cedi against major currencies, leading to high import costs and
   inflationary pressures.
6. Low private sector investment due to a lack of confidence in the economy.
7. High unemployment rate, particularly among the youth.
8. Dependence on aid and loans from international organizations.
9. Inadequate infrastructure, such as roads, bridges, and energy facilities.
10. Corruption and lack of transparency in government operations.
11. Inequality in income distribution and access to social services.
12. Low productivity and competitiveness of the domestic private sector.
13. High cost of doing business, leading to low investment and job creation.
14. Persistent energy shortages and power outages.
15. Political instability, with frequent changes in government.
16. Lack of effective coordination between different levels of government.
17. Delayed implementation of policies and projects.
18. Insufficient funding for key sectors such as education, health, and agriculture.
19. Brain drain due to the lack of opportunities for skilled workers in Ghana.
20. Limited access to finance for small and medium-sized enterprises (SMEs).
21. Inadequate public participation in decision-making processes.
22. Low levels of financial literacy among the general population.
23. Limited use of technology and innovation in key sectors.
24. Weak enforcement of regulations and laws.
25. Persistent gender inequality, with women being underrepresented in key
    decision-making positions.
26. Limited access to quality education and healthcare services in rural areas.
27. Environmental degradation due to illegal mining and logging activities.
28. Lack of effective collaboration between the public and private sectors.
29. Weak implementation of anti-corruption measures.
30. Insufficient focus on research and development.

Dr. Ankrah’s analysis of the state of the nation pointed out significant challenges, including high inflation rates, persistent fiscal deficits leading to a heavy public debt burden, low revenue generation, high interest rates, a weakened cedi against major currencies, low private sector investment, high unemployment rates especially among the youth, corruption, inadequate infrastructure, inequality in income distribution, and a lack of transparency in government operations, among many others.

The Independent Presidential Aspirant commended the people of Ghana for their resilience and forbearance in the face of what he described as governmental incompetence. Dr. Ankrah emphasized the urgent need for systemic change to address these deep-rooted issues and improve the quality of life for all Ghanaians. He pledged to focus on centricty and overhaul the existing system to create a better future for the citizens of Ghana.

As the 2024 presidential election approaches, Dr. Dam Ankrah’s bold critique of the state of the nation’s address underscores the need for a comprehensive and inclusive approach to tackle the economic challenges plaguing the country. His commitment to changing the system and addressing the fundamental issues affecting the population sets the stage for a potentially transformative campaign ahead of the upcoming election. It remains to be seen how Dr. Ankrah’s message will resonate with voters and influence the political landscape in Ghana.