Despite economic constraints, we will continue with Free SHS and other hallmark programs — Akufo-Addo
Despite the country’s present fiscal woes, President Akufo-Addo has stated that the government will continue to implement the ruling New Patriotic Party’s signature Free SHS policy and other social measures (NPP).
Despite the country’s present fiscal woes, President Akufo-Addo has stated that the government will continue to implement the ruling New Patriotic Party’s signature Free SHS policy and other social measures (NPP).
The President told a crowd at the S.D. Dombo University of Business and Integrated Development Studies in Wa that the government is aware of current obstacles that have harmed the economy.
According to him, the COVID-19 epidemic has had a significant impact on the current economic situation.
Despite the current problems, he emphasized that the government will continue with its social intervention programs because of the promising measures in place.
“As much as our nation faces challenges, largely due to the effects of the COVID-19 pandemic and its destructive impact on global supply chains and the operation of the global economy,”
the Minister of Finance said yesterday, “the Ghanaian economy is rebounding strongly, after experiencing positive but slow growth in 2020.”
According to the Statistical Service, the economy’s average growth rate for the first three quarters of 2021 was 5.2 percent, putting us on track to beat our preliminary growth forecast of 4.4 percent for the year.
Our growth rate compares favorably to the IMF’s growth forecasts of 3.7 percent for Sub-Saharan Africa and 3.7 percent for the ECOWAS group.
>>>we will continue with Free SHS and
In terms of fiscal consolidation, we’re still on track. The Ghana Income Authority surpassed its revenue target for 2021. And we’re optimistic that we’ll meet, if not exceed, the 80 billion cedi goal this year.
“This combination of strong growth and domestic revenue mobilization will allow us to meet our fiscal deficit target for 2021 and reduce the debt-to-GDP ratio, allowing us to continue to implement programs like our flagship Free SHS policy, the One District One Factory initiative, and Planting for Food and Jobs,” President Akufo-Addo explained.
President Akufo-Addo stated at the induction of a new registrar and Vice Chancellor of the S.D. Dombo University that the predicted economic performance will allow the government to continue with its road infrastructure projects and the creation of jobs for the youth across the country.
He also took the opportunity to praise the late Simon Diedong Dombo’s impact on Ghana’s socio-political scene, praising his contributions to the country’s democratic victories.
Meanwhile, Prof. Godfred Alufar Bokpin of the University of Ghana Business School (UGBS) has warned of the possibility of Ghana’s economy collapsing.
Prof. Bokpin reiterated on Monday’s Super Morning Show, after the country’s debt stock reached high distress levels, that the current debt situation could worsen by the end of September if adequate measures are not undertaken.
Source: myjoyonline
