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Our economy is on the path of recovery

President Nana Addo Dankwa Akufo-Addo has expressed contentment that Ghana’s is recovering from the setbacks of the COVID-19 pandemic, as the government’s post-COVID-19 policy measures to revitalise and transform the economy are yielding the desired outcomes.

He said the comprehensive GH¢100 billion Ghana COVID-19 Alleviation and Revitalisation of Enterprises Support (CARES) “Obaatanpa” programme to mitigate the impact of the COVID-19 pandemic, “has begun yielding results.”

“I’m happy to report that the Ghana Cares programme is inspiring the desired dividends that we anticipated,” he said at this year’s presentation of New Year Greetings to members of the Diplomatic Corps, at the Peduase Lodge in the Eastern Region, on Wednesday.

The President, who expressed optimism that the development would return the country to a sustained path of robust growth and create a more resilient and transformed economy, noted that because of the government’s policies, the economy grew at a provisional 5.2 per cent in the first three quarters of 2020.

That growth, which he said, was expected to be sustained and projected to rise to 5.6 per cent in the medium term, was a testament that his administration had managed the economy exceptionally well, despite the ravages of the pandemic.

“The overall real GDP for the medium term is projected to grow at an average of 5.6 percent, and we remain committed to returning to the fiscal deficit target threshold as enshrined in the fiscal responsibility Act, (Act 982) from this year,” he stated.

“We 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 that the rate of growth of the economy at 5.6 percent 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 predecessors Administration.”

He gave the assurance that the government would continue to work to accelerate the development of the country and ensure prosperity for its people.

The annual New Year greeting is held to strengthen the bonds for friendship and promote goodwill between Ghana and other countries, as well as international organisations.

The event had not been held for the past two years owing to the Covid-19 pandemic.

President Akufo-Addo expressed the gratitude of the Ghanaian people to the Diplomatic Corps for the various items of support offered by their respective countries and the World Health Organization to assist Ghana in her fight against Covid-19.

“We are thankful for the test kids, the protective medical gear, the facemask, the vaccines, as well as the collaboration with our research and health institutions. These gestures of solidarity and friendship also underscore the fact that none of our countries can do It alone in the fight to defeat the virus,” he stated.

“We have learnt in this period that getting vaccinated is the most efficient way to defeat the virus and go back to our normal way of life, reopen fully our economy and return our nation on to the path of progress and prosperity.”

The President informed the Corps that the government had been succeeded in securing nearly 26 million doses of the Vaccine and had so far been able to administer a total of 11 million doses and “we will ramp up our vaccination campaign to ensure that more and more
Ghanaians get the jab.”

“We’re still determined to reach our target of at least 20 million Ghanaians vaccinated,” he emphasised.

The President also urged the international community to support the sanctions taken out on Mali, Guinea and Burkina Faso by the Economic Community of West African States (ECOWAS) to curb the worrying political developments unfolding in the region.

The recent military take-overs in those three countries, he said, were “grave setbacks to democracy for the citizens of these countries and indeed for the entire ECOWAS community.”

“Our Collective history has taught us these military interventions are never a panacea to whatever challenges that a nation may be confronted with…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 terrorist activity.

“And as I stressed during the recent extraordinary Summit in Accra, West Africa will remain unsafe until drastic measures are instituted to consolidate and entrench democratic tenants, which are necessary for economic development and the protection of freedom.

“In this regard, I urge you and your respective countries and organisations to lend your wholehearted support for these sanctions to ensure their effectiveness.”

The President reiterated his government’s commitment to promote the tenets of Ghana’s foreign policy as well as continue to work to uphold the country’s reputation which finds expression in her democratic credentials.

He expressed hope that the relations between Ghana and the respective countries and international Organisations would be deepened through cooperation in the course of the year and beyond to help create prosperity and opportunity for all.

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