Ghana’s economic recovery programme credible, says Prez Akufo-Addo
President Akufo-Addo has indicated that the current economic recovery programme that the country has implemented, is considered very credible and that it will give the country the opportunity to rise to its feet again.
“In Ghana, the recovery programme that we have is considered very credible and it is what is going to give us the opportunity to come out of this period stronger, it is that future we are looking at,” the President stated.
He noted that the negative impact of the covid-19 as well as the impact of the Russian-Ukraine war has hit various economies around the world with Ghana not being an exception.
Adding that economies around the world are all struggling owing to these two main factors.
“I don’t know any economy in the world that is doing well in the midst of the Covid-19 pandemic and also the geopolitical tension between Russia and Ukraine.
“But we have also the opportunity to have industries set up not just for Ghana [but also] for the ECOWAS market and for the African market.
“We now have an African Continental Free Trade Area agreement which is up and operating. Ghana is the gateway to its market of 1.2 billion people. Imagine the opportunities that we are presenting.”
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To this end, Mr Okwoche interjected and told the President that, “Let us just be honest, the Ghanaian economy is doing just terribly. Inflation in your country is 15.1 per cent. The Ghanaian cedi has fallen 20 per cent on the dollar.”
But President Akufo-Addo replied him saying, “The Cedi has begun to firm up, the world is going through a difficult [moment], Ghana is no exception, Nigeria is no exception. There is no country in the world that is escaping the ravages of Covid-19 and also the impact of the [Russia-Ukraine conflict].”
The President made the comments while answering questions in an interview with BBC’s Peter Okwoche on Monday, April 4, concerning the Ghanaian economy.
Notable among government’s economic recovery programme is the GHS 100 billion Ghana CARES Obaatanpa Programme which is a three and half year comprehensive programme to mitigate the impact of the COVID-19 pandemic, return the country to a sustained path of robust growth and to create a more resilient and transformed economy.
