President Akufo-Addo has admitted that efforts by the country to address the challenges of the ailing economy will be extremely difficult.
However, he says the government has taken pragmatic steps to reverse the economic downturn while accepting the general anxiety evident in the cost of living, income levels and unavailability of jobs.
The President largely attributed the situation to the COVID-19 pandemic and the recent Russia-Ukraine war.
Speaking in Parliament on Wednesday March 30, as he presented the 2022 State of the Nation Address, President Akufo-Addo said the hardship Ghanaians are facing will soon be over to achieve the Ghana Beyond Agenda mantra.
“The road to recovery will be hard and long, Mr. Speaker, but we have started on a good footing by accepting that we are in a difficult place, and are taking the difficult decisions that will get us out. If anyone ever had any doubts about the need to be self-reliant, the point has now been forcibly drilled home to us. The pursuit of the Ghana Beyond Aid agenda is even more compelling now. I have no doubts whatsoever that we have it in us to build the Ghana of our dreams.”
President Nana Akufo-Addo also said his government is aware of the many economic challenges facing Ghanaians, and is working to address them.
He said the government was on the path of significant progress and development until the pandemic and Ukraine’s invasion by Russia adding that, the many actions taken by the government when it assumed office in 2017, began yielding results and put Ghana on the path of prosperity between 2017 and 2020.
“Then COVID rose. This is not something that anyone could have planned for and the consequences are there for us all to see around the world. The economic devastation of COVID has since the beginning of the year being further aggravated by the Russia invasion of Ukraine which has worsened the economic outlook of the entire world and we in Ghana have not escaped this development,” he noted.
President Akufo-Addo again indicated that “the measures that have been announced by the Minister for Finance are meant to demonstrate that we are aware that we are in difficult times, and we are addressing the situation. The belt-tightening measures being set for members of the Executive have been elaborated within this context.”
He further gave assurances that the government is not in oblivion of its obligations to the citizenry, and it will continue in its efforts to grow the economy and bring prosperity to citizens.