• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Economy rebounding faster from Covid-19 impact than envisioned – Prez Akufo-Addo

4 years ago
in Economy, highlights, Home, home-news, latest News
2 min read
0 0
0
64
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Economy rebounding faster from Covid-19 impact than envisioned – Prez Akufo-Addo

The President of the Republic, Nana Addo Dankwa Akufo-Addo, says Ghana’s economy rebounding faster from the ravages of COVID-19 than envisioned, following a slow rate of growth in 2020.

Speaking at the maiden edition of the Presidential Business Support, on Tuesday, 14th September 2021, at the Kempinski Hotel, President Akufo-Addo noted the support offered by the private sector, coupled with effective management of the COVID-19 crisis by Government, have seen the Ghanaian economy outperforming her peers, and rebounding faster than envisioned.

“After recording negative growth in the second and third quarters of 2020, the economy recovered strongly in the fourth quarter of the year, and well into the first and second quarters of 2021, registering an impressive growth rate of 3.1% in the first quarter of this year, and 8.9% in the second quarter,” he said.

The President continued, “The strong rebound in growth, low inflation rates, the stable currency, the strong reserve position, and FDI flows are clear indicators of our collective desire to restore the Ghanaian economy onto a path of sustained stability and growth. We will continue to strengthen and deepen our engagement with the private sector towards realizing this goal.”

Towards the growth of the Ghanaian economy, President Akufo-Addo told the gathering that, since 2017, Government has implemented policies and programmes that led to consistent economic growth averaging 7%, making Ghana one of the world’s fastest growing economies.

Ghana, he stressed, has become the leading recipient of foreign direct investments (FDI) in West Africa, and one of the most attractive investment destinations on the continent of Africa.

RelatedPosts

Prof. Bokpin Faults Ghana’s Budget Framework for Rewarding SOE Underperformance

Ghana Becomes Dangote Refinery’s Latest Crude Source as Refinery Hits 70% Capacity

GHS 395 Billion Asset Value of SOEs Formed 33.5% of Ghana’s GDP in 2024

However, following the onset of COVID-19, which disrupted the global economic order, the President stated that the pandemic eroded the significant gains made by the Government in the management of the economy.

“That notwithstanding, we were one of the few economies in the world to have recorded positive growth, as the global economy went into recession. We have taken bold measures necessary to stem the risk of a recession, mitigate the negative economic impact of the pandemic, and significantly reduce its burden on our population,” he said.

Explaining the rationale for the holding of the Summit, President Akufo-Addo indicated that these consultative engagements with the private sector have been convened as part of the Government’s Public Private Dialogue (PPD) framework, to help improve the business environment in the country.

Read This: Ghana, Nigeria, 6 other countries to pilot open extractives programme

Government, he explained, fully recognizes that it is the resilience and ingenuity of the private sector that can guarantee economic growth, create substantial job opportunities for Ghanaian youth, and strengthen the country’s position as an economic powerhouse in West Africa.

“Consequently, I have directed Ministers and relevant heads of state institutions to participate actively and fully in this important Summit, and ensure that there is constructive dialogue between Government and the private sector towards realising our vision of a Ghana Beyond Aid,” the President said.

Re-echoing Government’s commitment to the structural transformation of the Ghanaian economy, he indicated that, since 2017, Government has launched a comprehensive and ambitious programme for industrialization, based on the Ten Point Industrial Transformation Plan, the implementation of which is being coordinated by the Ministry of Trade and Industry.

“This Plan, amongst others, includes the One District One Factory (1D1F) initiative, the new Strategic Anchor Industries programme, designed to diversify our economy beyond cocoa and gold, the development of industrial parks and special economic zones, the development of small and medium-scale enterprises (SMEs), and the establishment of Business Resource Centres (BRCs) and Technology Solution Centres (TSCs) in various parts of the country,” he said.

Source: presidency.gov.gh
Via: norvanreports
Tags: COVID-19 pandemicEconomy rebounding faster from Covid-19 impact than envisioned – Prez Akufo-AddoFDIPublic Private Dialogue (PPD) framework
No Result
View All Result

Highlights

JVCs Post GHS1.51bn Profit, Assets Rise 39.9% in 2024 – SIGA Report

Gulf Countries Respond to U.S. Trade Pressure With Trillion Dollar Plans

Wall Street Forecasts Oil in the $50s Next Year

Ghana 5th in Africa for IMF Outstanding Debt in August 2025

Joe Jackson Warns BoG’s 10% NPL Target Could Squeeze SME Lending

SOEs Record 28.3% Revenue Growth But Post GHS 9.67bn Net Loss in 2024 – SIGA Report 

Trending

Features

Prof. Bokpin Faults Ghana’s Budget Framework for Rewarding SOE Underperformance

September 1, 2025

Prof. Bokpin Faults Ghana’s Budget Framework for Rewarding SOE Underperformance Professor of Finance and Economics at the...

Ghana Becomes Dangote Refinery’s Latest Crude Source as Refinery Hits 70% Capacity

September 1, 2025

GHS 395 Billion Asset Value of SOEs Formed 33.5% of Ghana’s GDP in 2024

September 1, 2025

JVCs Post GHS1.51bn Profit, Assets Rise 39.9% in 2024 – SIGA Report

September 1, 2025

Gulf Countries Respond to U.S. Trade Pressure With Trillion Dollar Plans

September 1, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.