The President, Nana Addo Dankwa Akufo-Addo, says Ghana’s economy is gradually bouncing back from the ravages of the coronavirus pandemic.
Nana Akufo-Addo says with GDP expected to grow at 5.21 percent, Ghana is on the right track. Government has come under fire for what many say has been a poor management of the economy compounded by the downgrading by international rating agency, Fitch.
Speaking at the induction ceremony of the new Vice-Chancellor of S.D. Domba University of Business and Integrated Development Studies in Wa, Nana Akufo-Addo said the economy is growing.
“Inasmuch as our nation is confronted with difficulties, largely by the COVID-19 pandemic, the Ghanaian economy as indicated by the Finance Minister is rebounding strongly after experiencing a positive slow growth in 2020”, Akufo-Addo.
The President also said, data from the Ghana Statistical Service shows the average growth rate of the economy for the first three quarters of 2021 was at 5.2%, putting the country on course to exceed its provisional growth outturn of 4.4% for 2021.
“Our growth performance compares very favourably with the IMF growth estimate of 3.7% for sub-Saharan Africa, and 3.6% for ECOWAS countries. We are still on course in our fiscal consolidation agenda. The Ghana Revenue Authority exceeded its 2021 tax revenue target, and we are confident we will achieve, if not surpass, the GHS 80 billion target for the year”, Nana Addo added.
The president has said that despite the current economic challenges confronting the country, his government has put in place stringent measures to ensure the smooth running of the economy.
Nana Addo assured Ghanaians of his steadfast commitment to ensuring the successful implementation of all government programs to enhance their living conditions.
The government is committed to ensuring a turnaround of the economy this year, 2022.
“Even though Ghana’s economy has been affected by the COVID-19 pandemic, things will normalize hoping it will do whatever it can to bring back the economy from the shackles of the COVID-19 pandemic.”