{"id":1170778,"date":"2022-08-08T17:46:55","date_gmt":"2022-08-08T17:46:55","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/08\/08\/economy-will-bounce-back-strongly-akufo-addo-assures\/"},"modified":"2022-08-08T17:46:55","modified_gmt":"2022-08-08T17:46:55","slug":"economy-will-bounce-back-strongly-akufo-addo-assures","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/08\/08\/economy-will-bounce-back-strongly-akufo-addo-assures\/","title":{"rendered":"‘Economy will bounce back strongly’ \u2013 Akufo-Addo assures"},"content":{"rendered":"

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President Nana Akufo-Addo is confident that the economy will bounce back strongly from the ravages of the Covid-19 pandemic, which has been exacerbated by the effects of the Russian invasion of Ukraine.<\/p>\n

Speaking on the recent economic challenges confronting the nation on Monday, he said when he took office in January 2017, he inherited an economy under an IMF Programme.<\/p>\n

\"'Economy<\/figure>\n

He told North Star Radio that his government was able to exit successfully; in 2019, the IMF programme started by the erstwhile Mahama government implemented flagship programmes like the Free SHS policy and 1-District-1-Factory initiatives and grew the economy at an annual average growth rate of 7% from 2017 to 2020.<\/p>\n

\u201cJust as we were able to go through this COVID situation, I am confident (that we will go through these current difficulties). <\/p>\n

\u201cLet me repeat it that this government, based on our implemented policies, will find a way to bring our economy back to a better place,\u201d he assured.<\/p>\n

The President noted that since 2020, Government has taken some very significant, proactive measures to minimize the impacts of the Covid-19 pandemic.<\/p>\n

\"'Economy<\/figure>\n

\u201cWe have one of the lowest mortality rates of any country in the world, not just in Africa, but also in the world, and one of the lowest infection rates largely because of the decisiveness of which the government acted to make sure that this pandemic was, as much as possible, prevented from having any really significant impacts on the people,\u201d President Akufo-Addo said.<\/p>\n

He added, \u201cTowards the end of last year, the last quarter of last year, our GDP growth picked up again to over 6%, I think that you are aware of that. <\/p>\n

\u201cThis is before the war in Europe, because the recovery had begun again, and the confidence in the economy and its management was resurfacing.\u201d<\/p>\n

\"'Economy<\/figure>\n

Unfortunately, the President bemoaned, the decision to invade Ukraine taken by the Russian President has had an impact on \u201ccommodity prices, food prices across the world. <\/p>\n

\u201cFreight rates went up astronomical, virtually all these various indices which are so important in the management of the economy, went through the ceiling.\u201d<\/p>\n

Touching on why the Ghanaian situation is not in isolation from the rest of the world, President Akufo-Addo said, \u201cit is also important for us to recognize that we\u2019re not the only economy in the world that is having these difficulties. <\/p>\n

\u201cVirtually all the economies, great and small, you read the data about what\u2019s going on in America or Britain, the European Union and in other African countries, you see that we\u2019re all in the same boat.\u201d<\/p>\n

\"'Economy<\/figure>\n

However, he pointed out, \u201cI am not looking for excuses, I\u2019ve never believed in excuses, as a way of running a country, you have to play with the cards with which you are dealt. <\/p>\n

\u201cBut the cards that have been dealt with, in this our second term, are these exogenous factors, external factors, that have had such a big impact on us, and we are determined to work our way through it.\u201d<\/p>\n

President Akufo-Addo assured that \u201cwe are determined to work our way through it. We did it when I first came into office, and strongly believe that we can do it again because the policies are sound\u201d.<\/p>\n

\"'Economy<\/figure>\n

He reiterated, \u201cwe are about putting Ghana in a sound place. For the time being, there will be a lot of up and down, people talking, yes the difficulties are there, I\u2019m the last to want to minimise the difficulties, they are there, they are affecting the lives of ordinary people in a very negative way. <\/p>\n

\u201cBut, what I\u2019m saying to the people of Ghana is, continue to have confidence, that this government that took our economy from one of the lowest growth rates in our modern history, when I came into office in 2017, and brought it up to one of the fastest growing economies in the world, that this government did that, this government that was able to steer Ghana through the Covid pandemic.\u201d<\/p>\n

President Akufo-Addo is on a two-day working tour in the Northern Region of Ghana, following visits to the Upper East and North East Regions<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

President Nana Akufo-Addo is confident that the economy will bounce back strongly from the ravages of the Covid-19 pandemic, which has been exacerbated by the effects of the Russian invasion of Ukraine. Speaking on the recent economic challenges confronting the nation on Monday, he said when he took office in January 2017, he inherited an […]<\/p>\n","protected":false},"author":1,"featured_media":1170780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[187],"tags":[648,1143,2437,1963,16403],"class_list":["post-1170778","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics","tag-akufoaddo","tag-assures","tag-bounce","tag-economy","tag-strongly"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1170778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1170778"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1170778\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1170778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1170778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1170778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}