At the height of the Covid-19 outbreak, President Nana Addo Dankwa Akufo-Addo made a widely praised declaration that the administration knew how to revive the economy. He has now clarified that this statement was not meant in jest.
President Akufo-Addo mentioned the economy’s development trajectory despite the pandemic in his speech on the economy on October 30.
Prior to Russia’s invasion of Ukraine, which further exacerbated the negative effects of Covid-19 on the economy, he claimed that the economy increased at a pace of 7%.
“We could all see in real time the devastation that was being wreaked on economies during the pandemic, but I doubt that anyone imagined the extent of the damage. Our economy, here in Ghana, like many, many others around the globe, was thrown into turmoil.
“When I said, at the height of the COVID pandemic, that we knew what to do to bring the economy back to life, but not how to bring people back to life, it was not said in jest. We had done it before, and we were on course to doing it again. Ghana’s economy grew by a remarkable 5.4% in 2021, signifying a strong recovery from the 0.5% growth recorded the previous year due to the COVID-19 pandemic.
The Russian invasion of Ukraine in the first quarter of this year aggravated the consequences of COVID-19 and sent the world economy into even greater chaos, from which it has not yet recovered, he added. “In fact, in the fourth quarter of 2021, our economy increased at seven percent (7%),” he said.
President Akufo-Addo underlined the necessity for the government to concentrate on deploying measures to save human lives amid the devastating pandemic during one of his Covid-19 updates in 2020.
“We know how to bring back the economy. How to bring individuals back to life is something we do not know, he added.
The president received praise for his remarks from foreign leaders as well as the leaders of pertinent government and non-governmental organizations.
They have urged the president to make good on his promise by reviving the economy, since many Ghanaians are suffering due to the current economic crisis.