President Nana Addo Dankwa Akufo-Addo has assured the general public of his administration’s commitment to taking the economy back to the growth rate of the pre-coronavirus rea.
According to President Akufo-Addo, the country had in recent times witnessed difficulties in the management of the economy, largely as a result of the impact of the COVID-19 pandemic on the global economy.
The situation, he admitted, has been exacerbated by the effects of the Russian invasion of Ukraine.
“The basic commitment to resolving these challenges, within the framework of due process and democratic institutions, must remain unshaken and I am confident that, God-willing, we will overcome these challenges.”
President Akufo-Addo made this assertion on Monday, September 12, 2022, at the 2022 Ghana Bar Association Conference Ho, the Volta Region capital.
He was confident that with the measures used in the fight against the COVID-19 disease, he is confident the country’s economic woes shall also be overturned.
“We overcame the fearsome COVID-19 menace with a resolution, desired for actions and correct policy, and we will overcome our current economic challenges with the same mixture of determination, energy, and appropriate policy.”
The president recounted how his administration came into office at the time of an ongoing IMF-supported economic programme and was able not only to steer the country successfully out of the programme but also to build, it in the three years of his first mandate.
One, he said, was the fastest growing economy in the world then, before the outbreak of COVID-19, at an annual average GDP growth rate of seven percent (7%) in 2017, 2018, and 2019.
“We will do so again. In fact, in the last quarter of 2021, the recovery from COVID-19 appeared to be on course, when our economy grew at seven percent (7%), only for the Russian invasion of Ukraine in the first quarter of this year to exacerbate our challenges. We will overcome them,” he added.
