2021 Has Been Tough But Economy Bouncing Back Strongly -Akufo-Addo
President Akufo-Addo has admitted that 2021 has proven to be a tough year not only for Ghana but also for everyone on the planet.
The President made the comments in his Christmas message delivered on Christmas eve.
“I know these are difficult times for us. Undoubtedly, 2021 has proven to be a tough year not only for us, but also for everyone on the planet. COVID-19 has affected every sector of the global economy and our national life; nothing, in its path, has been spared its ravages,” he said.
“Our economy, which was growing at an average of 7% in 2017, in 2018 and in 2019, grew by 0.4% in 2020, because growth in industry, services, tourism and manufacturing sectors, which drive the economy and provide jobs for many Ghanaians, contracted dramatically in 2020, as a result of the sudden disruption in the global supply chain and the steep decline in the global economy, which sent the global economy into recession,” The president added
According to him, this is the stark reality of the situation, not an excuse adding “Indeed, but for the bold and timely measures put in place by Government to cushion Ghanaians against the worst effects of the pandemic, our situation would have been more precarious
“For the purposes of propaganda and narrow partisan and parochial interests, some would have you believe that the difficulties we are facing are purely Ghanaian phenomena, made by the NPP government under my leadership. Pay no heed to such persons.
They know the truth, but cannot speak it. The significant fact for me is my determination to pull us out of this situation. Government has designed a solid programme for the recovery and revitilisation of the economy, which is the one hundred-billion-cedi Ghana CARES ‘Obaatampa’ Programme. We have completed the implementation of the Stabilisation Phase in 2021, which saw the economy grow at 6.6% in the 3 rd quarter of 2021, with a projected overall growth of 4.4% for 2021. 2022 and 2023 will be the years of Recovery and Revitilisation and faster economic growth”
The president, however, said, already, there are clear signs that the economy is bouncing back strongly, just as there are welcome indications that the global economy is also recovering.
“The work undertaken by my government, over the last five (5) years, in education, healthcare delivery, agricultural and industrial transformation, infrastructural enhancement, especially in the road sector, the empowerment of the security services, and the development of the digital economy, amongst others, is evident. I appeal to you to stand shoulder-to-shoulder with my government in these trying times,” he added.