President of the Republic of Ghana Nana Addo Dankwa Akufo-Addo has said, his government needs to take some difficult but necessary fiscal and other measures that will enable the country to maintain the 2022 and higher rates of growth in the immediate years ahead of Ghana to spur growth, development and restore the economy.
The President made the pronouncement at the 92nd Speech and Prize-Giving Day of St. Augustine’s College in Cape Coast on Saturday, 19 March 2022.
According to him, the Ghanaian economy grew at a provisional 5.2% in the first three quarters of 2021, with GDP growth for 2021 projected at 5.6%, as against the 0.4% of 2020.
He further said, policies being implemented by his government, in the wake of the difficulties occasioned by the COVID-19 pandemic, will help the economy rebound faster than anticipated.
“Ghana is not the only country faced with extraordinary increases in global freight rates, strong inflationary pressures, dramatically rising fuel prices, unprecedented volatility of stock markets, and tighter global financing conditions. These are global phenomena,” he said.
“Nonetheless, the government continues to work hard to address these issues, and I am certain that, sooner, rather than later, our economy, through the implementation of Government’s one hundred-billion-cedi (GH¢100 billion) Ghana CARES Obaatanpa Programme, will rebound from the ravages of the pandemic, bringing in its wake stability, development, progress and prosperity for all Ghanaians.”
Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen
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