A Deputy Communications Director at the Office of the President, Nana Yaw Preko, has called on Ghanaians to continue to have faith in the government.
According to the Deputy Communications Director, even though leadership appreciates the current economic situation, all is not lost and that government is more capable of turning things around.
He made the appeal when he engaged the media in Koforidua last week Friday, to inform them about some of the strategic interventions the government has initiated to change the economic situation.
To Nana Preko, the government has adopted major economic measures to control and achieve sustainable growth of Ghana’s economy. He mentioned one of the measures as the decision to cut down on expenditure to ensure fiscal stability.
According to him, despite the challenges posed by the Covid-19 pandemic and Ukraine-Russia crisis, the government has managed to implement the domestic’s debt restructuring policy as well as the International Monetary Fund (IMF) deal.
Nana Yaw Preko explained that the restructuring was intended to build a more resilient economy that at least can accommodate the external shocks.
He contended that President Akufo-Addo and his government are better managers of the national economy and that it is important for Ghanaians to continuously manage the economy by voting for the New Patriotic Party.
He asserted that the government remains committed to implementing effective policies and reforms despite the impact of the Covid-19 pandemic and global economic crises.
“Because we have the men, the GDP was fairly stabilised at 6.5% in 2019 whilst inflation dropped to a record low of 7.1%, ” he added.
He specified that Ghana’s growth rate plummeted to a record low of 0.4% in 2020 following the impact of Covid-19 pandemic and global economic disruption, but the government’s expedient recovery strategies paid off, leading to a swift recovery in 2021, with a growth rate of 5.4%.
“The African Development Bank (ADB) has projected a steady growth rate of 5.4% to 5.6% by 2023, contingent upon the absence of any major global economic disruptions,’’ said Mr. Yaw Preko.
He said that the economic recovery is a dynamic progression that positioned Ghana as the fastest-growing economy in the sub Saharan African sub region during the pre-Covid era (2017-2019).
