Ghanaian president says economy to be revitalized after COVID-19

ACCRA, Mar 10 (XINHUA/APP): Ghanaian President Nana Addo Dankwa Akufo-Addo said here Wednesday he is confident the country’s economy will be revitalized after COVID-19.

Delivering his maiden state of the nation address in his second term as president, Akufo-Addo highlighted the devastating impact the pandemic has had on the Ghanaian and global economies.

“Mr. Speaker, in the face of a global pandemic that has ravaged lives and livelihoods in all parts of the world, we cannot afford to pursue interests that will leave our nation and its citizens the poorer for it. COVID-19 has impacted heavily on economic activities, created uncertainty, weakened global growth conditions, whilst putting undue strain on already weak and fragile health systems, particularly in developing countries,” he said.

Nana Akufo-Addo observed COVID-19 has exposed the need to move the country beyond aid hence the implementation of the Ghana CARES program. “The pandemic has exposed the need to expedite the process of moving Ghana to a situation beyond aid. That is why the government has developed and is currently implementing the one hundred-billion-cedi (about 17 billion U.S. dollars) Ghana CARES Obaatampa program to transform, revitalize and modernize our economy, and return it to high and sustained growth for the next three years,” he added.

The Ghanaian president also emphasized the government will make a huge investment in the health sector, embark on a rapid industrialization drive as well as digitization in his second term to transform the country’s economy.

He further underscored the importance of strengthening co-operation and deepening bilateral and multilateral trade and economic ties have brought significant dividends by attracting domestic and foreign investments into the country.

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