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Business News of Tuesday, 27 July 2021


Ghana recorded positive GDP growth in 2020 - Akufo-Addo

Nana Addo Dankwa Akufo-Addo is the president of Ghana Nana Addo Dankwa Akufo-Addo is the president of Ghana

• President Akufo-Addo says the economy has been doing better even though the world has been hit by the Coronavirus

• He explained that they have been able to do this through hard work and the grace of God

• He made reference to a certain report from Fitch Solutions to buttress his points

The president, Nana Addo Dankwa Akufo-Addo, has stressed that amidst the global pandemic that has devastated a lot of economies of the world, Ghana continues to be recording positive GDP growths.

The president explained that while the Coronavirus upset a number of government interventions that were in place prior to the onset of the pandemic, hard work on their part has ensured that the economy is not in distress.

He also explained that the country is already on track to recovery, a feat that is being confirmed by globally renowned organizations.

“Prior to the onset of COVID-19, the government had instituted a number of policies and programs which have succeeded, albeit modestly, in promoting a business-friendly environment, attracting investments, creating jobs, growing the economy, and enhancing the living standards of the Ghanaian people.

“Today, some 16 months later, these achievements have been significantly eroded thanks to COVID-19. Whereas there are positive signs of recovery emerging from many parts of the world, there are still some countries that are facing dire conditions. We in Ghana, through hard work and the grace of God, have however been placed firmly back on a path to recovery as recent credible assessments have established.

“Indeed, even in the midst of a global recession, our economy was one of the very few to have recorded a positive GDP growth in 2020. This development has been buttressed further by the news that in the first quarter of 202, the economy witnessed, according to the Ghana Statistical Service, a 3.1% rate of GDP growth. Even better, is the fact that according to one of the globally most respected credit rating agencies, Fitch Solutions, Ghana is projected to be the fasted growing economy in Africa this year, restoring our position before the pandemic,” he explained.

President Nana Addo Dankwa Akufo-Addo was speaking at the 2021 Performance Contract Signing Ceremony on Monday, July 26, 2021.

The event was organized by the State Interest and Governance Authority (SIGA).