Ghana’s Economy On Steady Path To Recovery From COVID-19 Impact – President Akufo-Addo
President Akufo-Addo says the country’s economy is on a steady path to recovery from the devastating impact of the two-year-old COVID-19 pandemic that has disrupted the entire global economy in an unprecedented fashion.
Addressing the diplomatic community in Ghana at the annual presentation of new year greeting held at the Peduase lodge in Aburi on Wednesday 9 February 2022, President Akufo-Addo said his administration’s difficult but necessary economic decisions after taking a strong negative hit as a result of the pandemic, are beginning to pay off.
“As a result of government’s policies, the economy grew at a provisional 5.2% in the first three quarters of 2020. This growth is expected to be sustained in the medium term”.
“The overall GDP for the medium term is projected to grow at an average of 5.3% and we remain committed to returning to the fiscal deficit target threshold as enshrined in the fiscal responsibility Act, Act 982 from this year” President Akufo-Addo said.
Promoting growth
President Akufo-Addo noted that his government “will continue along the line of promoting inclusive growth, encouraging investments, and improving the standard of living of Ghanaians”.
“It is encouraging for me and my party, the New Patriotic Party to record the rate of growth of the economy at 5.6% against the background of exceptionally difficult circumstances of the COVID era is still considerably better than the 3.4% we inherited in calmer times from our predecessor administration” Akufo-Addo added.
Action on coups
On recent military takeovers and coup d’états in the ECOWAS sub-region, President Akufo-Addo told the diplomats that the Authority of heads of states remain deeply worried about the trend.
Unjustified as the takeovers are, the President indicated that ECOWAS leaders are committed to instituting measures that will help in stopping the trend.
“Several readings including those related to the economy and security have been proffered by the new military rulers to justify these coup d’états. No reason in good enough to dispense with the freely expressed will of the people”.
“Our collective history has thought us that these military interventions are never a panacea for addressing whatever challenges with which a nation may be confronted”.
“Decisive steps need to be taken to preserve democracy and freedom in the region as well as to overcome the additional security challenges posed through terrorists’ activity” President Akufo-Addo said.
“The Authority of heads of state has therefore in line with the ECOWAS protocols suspended the three-member state ( Mali, Guinea and Burkina Faso) of their membership of the organization and of its organs, imposed a range of sanctions on these three countries and have stressed during the recent extraordinary summit in Accra,….West Africa will remain un-safe until drastic measures are instituted to consolidate and entrench democratic tenets which are necessary for economic development and the protection of freedom” President Akufo-Addo added.
Dean – Diplomatic Corps
Mrs Claudia Turbay Quintero, the Columbian Ambassador to Ghana, and Dean of the Diplomatic Corps, in her address on behalf of the diplomatic community, congratulated President Akufo-Addo and Vice President Mahamudu Bawumia, for winning a second term mandate through democratic means in the 2020 general elections.
“As the head of state of Ghana, you have fully demonstrated your commitment to democracy where we see how peace and dialogue within the different powers are prevailing”.
“We also see how freedom of opinion and freedom of the press, acceptance of ideological difference and respect for the rule of law also prevailing” Ambassador Claudia Turbay Quintero said.
ECOWAS leadership
She commended President Akufo-Addo for leading the ECOWAS institution to take decisive steps aimed at restoring democratic rule in the three West African nations (Burkina Faso, Mali and Guinea) that have suffered military takeovers in the last two years.
The Dean indicated that the diplomatic community in Ghana will continue to support the efforts of ECOWAS in the protection of democracy and the rule of law in the sub-region.
Wilberforce Asare
