What to expect from Prez Akufo-Addo’s State of the Nation Address today
President Akufo-Addo is today, March 30, 2022, expected to deliver on the floor of Parliament the State of the Nation Address (SONA).
The State of the Nation is an annual address to Parliament given by the President of the republic of Ghana covering economic, social, and financial state of the country according to Article 67 of the 1992 constitution of Ghana.
Given the passage of the E-Levy Bill just yesterday, March 29, the President will be expected to address extensively concerns raised over the judicial use of revenues accrued from the controversial tax, reassuring the populace of efficient use of revenues and once again detailing the economic and social programmes the E-Levy revenues will be used for.
The President will also be expected to comment on the Minority’s application for Stay of Execution at the Supreme Court which prevents him from signing into law the E-Levy Bill.
In the spirit of raising revenues for national development and reducing the country’s public debt stock, the President will touch on and detail the various debt sustainability programmes put in place by his government to significantly lower Ghana’s debt-to-GDP stock which currently stands at 80.1% of GDP and making the economy debt-distressed free.
Read: E-Levy Bill Passage: A return to the good books of investors, rating agencies?
Also given the recent economic happenings in the country with regards to increasing inflation, fast depreciation of the cedi, President Akufo-Addo will address the Parliament and at large the nation, on how effective monetary policy measures by the Bank of Ghana will be in restoring inflation to the medium term target band and slowing down the fast depreciation of the cedi against the major trading currencies.
He will also be expected to touch on the fuel price increments in the country that has brought hardships to the Ghanaian public and hopefully announce a further reduction in fuel prices as the 15 pesewas reduction earlier announced by the Finance Minister has been rejected by the various commercial transport operator unions in the country.
The President will also be expected to give an update on the performance of the various sectors of the economy such as agriculture and industry in the past one year, and how it intends to deal with arising challenges in these sectors.
The state of the nation address, also known as SONA, was first implemented under the administration of John Kufuor. Records show that in 18 years at the helm of Ghana, President Jerry John Rawlings did not deliver a State of the Nation address contrary to the provisions of the national constitution.
Former president John Agyekum Kufuor, was the first president to deliver the state of the nation address in Ghana hence sticking rigidly to the letter of the constitution, which says the president should give a State of the Nation address at the beginning and close of every parliamentary session. Since then The state of the nation has been in existence.
