2021 has been difficult but the economy is rebounding strongly
President Akufo-Addo admitted that 2021 has turned out to be a difficult 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.
âI know these are tough times for us. Without a doubt, 2021 has turned out to be a difficult year not only for us but also for everyone on the planet. COVID-19 has affected all sectors of the global economy and our national life; nothing in its path has been spared its ravages, âhe said.
âOur economy, which grew at an average of 7% in 2017, 2018 and 2019, grew by 0.4% in 2020, as growth in the industrial, service, tourism and manufacturing sectors , which drive the economy and provide jobs for many Ghanaians, contracted dramatically in 2020, due to the sudden disruption of the global supply chain and the sharp decline in the global economy, which have plunged the global economy into recession, âadded the President.
According to Nana Addo Dankwa Akufo-Addo, this is the harsh reality of the situation, not an excuse to add “Indeed, but for the bold and timely measures put in place by the government to protect Ghanaians from the worst effects of the pandemic, our situation would have been more precarious
âFor propaganda purposes and narrow partisan and parochial interests, some would have you believe that the difficulties we are facing are purely Ghanaian phenomena, created by the NPP government under my leadership. Pay no attention to such people.
They know the truth, but cannot speak it. The important fact for me is my determination to get us out of this situation. The government has designed a strong program for economic recovery and revitalization, which is the Ghana CARES Cedi One Hundred Billion âObaatampaâ program. We completed the implementation of the stabilization phase in 2021, which saw the economy grow by 6.6% in Q3 2021, with overall growth projected to be 4.4% for 2021. 2022 and 2023 will be the years of recovery and revitalization. and faster economic growth â
The president, however, said there were already clear signs that the economy was rebounding strongly, just as there are welcome indications that the global economy is also recovering.
âThe work undertaken by my government, over the past five (5) years, in education, health care delivery, agricultural and industrial transformation, improvement of infrastructure, especially in the road sector, The empowerment of security services and the development of the digital economy, among others, is evident. I ask you to stand alongside my government in these difficult times, âhe added.