Africa-Press – Ghana. Government is determined to implement policies that would stabilize the economic challenges the country was currently facing, President Nana Addo Dankwa Akufo-Addo has assured.
President Akufo-Addo who was speaking at the 92nd Speech and Prize-Giving Day of St. Augustine’s College in Cape Coast last Saturday said, the government was not oblivious of the economic challenges facing Ghanaians and assured that appropriate measures would soon be instituted to make the economy rebound faster than expected to spur growth.
“Ghana is not the only country faced with extraordinary increases in global freight rates, strong inflationary pressures, dramatically rising fuel prices, unprecedented volatility of stock markets, and tighter global financing conditions. These are global phenomena,” he stated.He said these economic challenges occasioned by the COVID-19 pandemic and the recent Russia-Ukraine war, has not only been a Ghanaian problem but also for other countries.
President Akufo-Addo said the government would undertake difficult but necessary fiscal policies and other measures, that would help consolidate the 2021 fiscal gains, as well as engender higher growth rates–that would lead to prosperity and create jobs.
The economy grew at a provisional rate of 5.2% in the first three quarters of 2021, “the Gross Domestic Product growth rate projected for 2021 was 5.6%, as against the 0.4% of 2020”, he added.
The government would continue to work hard to address these issues, and was certain that, sooner, rather than later, the economy, “through the implementation of the government’s GH¢100 billion Ghana CARES Obaatanpa Programme, will rebound,” he added.On peace and stability, he said, Ghanaians should guide against irresponsible utterances that could destabilize the country’s democratic dispensation.
“I have said, and will use this platform to repeat that, coups have never been, and will never be durable solutions to the political, economic and security challenges confronting our nation and continent”, the President restated.
President Akufo-Addo said, Ghanaians, for the past 29 years had reposed “their trust in the democratic process as the avenue to resolve the myriad of problems the country faces, and have demonstrated their determination to uphold democratic values and institutions to bring development to the nation.”
With the coup mentality of a few irresponsible Ghanaians, President Akufo-Addo, however, expressed confidence that a great number of Ghanaians, are committed to democratic values and democratic institutions.
“They will continue to resist the rhetoric and advances of coup mongers and coup plotters, and those of us who have the responsibility to safeguard the integrity of the state will employ all legitimate means in a democracy to preserve our free, open system of governance, which is respectful of human rights, the rule of law and the principles of democratic accountability,” he added.
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