President John Mahama is expected to present the state of the nation address to parliament next week Thursday.

Joy Business gathers that the address would dwell heavily on measures government is adopting to minimize the current challenges the economy is going through.

He is also expected to appeal to Ghanaians to support recent measures announced by Bank of Ghana to stabilize the local currency while promoting consumption of local products to help reduce heavy dependence on foreign products.  

He is also expected to give a true picture of the state of the economy.

In another development, government says it is reviewing the country's procurement laws to give priority to contractors and service providers that source majority of their inputs locally.

This is one of the long term measures government is adopting to help reduce heavy dependency of foreign goods for local consumption. 

Finance Minister Seth Terpker disclosed this at a brief interaction with some journalists and businessmen on the state of the economy and recent foreign exchange measures introduced by the bank of Ghana to stabilize the cedi. The minister says the recent measures were needed to help save the country's reserves which currently stand at a little over five billion Ghana billion dollars.