Ghana’s economy will recover in 2022, 2023 – President Akufo-Addo

President Akufo-Addo has expressed optimism that 2022 and 2023 will be the years of recovery and revitilisation of Ghana’s economy from the shocks of COVID-19.

He said already, there are clear signs that the economy is bouncing back strongly, just as there are welcome indications that the global economy is also recovering.

President Akufo-Addo made the remarks in his Christmas message to Ghanaians on Saturday, December 25, 2021.

He said “2021 has proven to be a tough year not only for us, but also for everyone on the planet.”

He noted that the impact of COVID-19 has affected every sector of the global economy and “our national life; nothing, in its path, has been spared its ravages.”

For President Akufo-Addo, Ghana’s situation under the COVID-19 would have been worse had it not been the proactive interventions and policies government put in place to cushion Ghanaians.

“Our economy, which was growing at an average of 7% in 2017, in 2018 and in 2019, grew by 0.4% in 2020, because growth in industry, services, tourism and manufacturing sectors, which drive the economy and provide jobs for many Ghanaians, contracted dramatically in 2020, as a result of the sudden disruption in the global supply chain and the steep decline in the global economy, which sent the global economy into recession.

This is the stark reality of the situation, not an excuse. Indeed, but for the bold and timely measures put in place by Government to cushion Ghanaians against the worst effects of the pandemic, our situation would have been more precarious.

For the purposes of propaganda and narrow partisan and parochial interests, some would have you believe that the difficulties we are facing are purely Ghanaian phenomena, made by the NPP government under my leadership. Pay no heed to such persons.”