Ghana’s economy contracts in 2020
4.4% economic growth projected for 2021, 2022 and 2023, Akufo-Addo
President Akufo-Addo has indicated government has designed a solid economic plan to help revitalise the economy from the impacts of the coronavirus pandemic.
Ghana’s economy in 2020 recorded 0.4 percent growth due to contractions in industry, services, tourism and manufacturing sectors as a result of disruptions in the global supply chain due to the COVID-19 pandemic.
Delivering his Christmas message on Friday, December 24, President Akufo-Addo assured Ghanaians that the ambitious GH¢1 billion Ghana CARES ‘Obaatampa’ Programme will propel economic growth anchored on job creation.
“We have completed the implementation of the Stabilisation Phase in 2021, which saw the economy grow at 6.6% in the 3rd quarter of 2021, with a projected overall growth of 4.4% for 2021, 2022 and 2023 will be the years of Recovery and Revitalisation and faster economic growth,” Akufo-Addo highlighted.
The president however said there are already clear signs Ghana's economy is bouncing back strongly, just as there are welcome indications that the global economy is also recovering.
“The work undertaken by my government, over the last five (5) years, in education, healthcare delivery, agricultural and industrial transformation, infrastructural enhancement, especially in the road sector, the empowerment of the security services, and the development of the digital economy, amongst others, is evident. I appeal to you to stand shoulder-to-shoulder with my government in these trying times,” he added.
