Ghana CARES programme to save us from economic woes - Akufo-Addo
President of Ghana, Nana Addo Dankwa Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has said one of the government's flagship programmes, Ghana CARES 'Obaatanpa' programme is the road to the country's economic recovery.
Read full articleHe however admitted that Ghana is in difficult times just like other countries worldwide due to the outbreak of COVID-19 and the Russia-Ukraine war.
President Akufo-Addo said the Ghana CARES programme was one of the measures taken by the government to alleviate hardship on Ghanaians.
He labelled the programme as a credible one.
Speaking in an interview with BBC, he said, “The world is going through very difficult times and Ghana is no exception. There is no country in the world that is escaping the ravages of both the COVID-19 and the Ukraine-Russia crisis."
“What you need to look at are the elements that are being put on the ground that look beyond the COVID-19 and Ukraine-Russia war. In Ghana, the CARES Programme is considered very credible and it is what is going to give us the opportunity to come out of this period [as] a stronger economy,” he added.
Ghana CARES Programme is a GH¢100 billion development initiative designed by government to mitigate the economic challenges brought on by the Coronavirus pandemic.
It is to stabilize, revitalize and transform Ghana’s economy to create jobs and prosperity for Ghanaians over a three-year period.
According to the Ministry of Finance, the Obaatanpa programme is sequenced in two phases: a Stabilization Phase that is running from July to the end of the year (2020); and a medium-term Revitalization Phase from 2021-2023.
The first phase of the programme builds on the actions already taken by Government under the Coronavirus Alleviation Programme, including stabilization of the economy, ensuring food security, supporting businesses and workers, strengthening the health system and passage of legislation to facilitate quick economic recovery.
The second phase aims at revitalizing and transforming the economy from 2021-2023 will focus on supporting commercial farming and attracting educated youth into agriculture, building Ghana’s light manufacturing sector, developing engineering/machine tools and ICT/digital economy, developing Ghana’s housing and construction industry, reviewing and optimizing the implementation of Government flagships and key programmes among others.
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