Ghana’s Economy On The Path Of Growth After Covid Setback – Paul Amaning

Paul Amaning, the Eastern Region New Patriotic Party NPP Chairman hopeful has urged Ghanaians to be optimistic about the competent management of Ghana’s economy, saying it has begun to show strong signs of recovery following the global impact of the COVID-19 pandemic.

He revealed that, the exceptional economic prowess and intelligence of the managers of the economy, led by President Nana Addo Dankwa Akufo-Addo, was key to wealth creation to reduce poverty, attract investments, empower businesses to expand to create jobs, and deliver quality education to make the economy yield prosperity for all.

Paul Amaning said the country’s current political administration had generally exercised impressive discernment, good judgement and management of the exchange rate.

Recession

Regardless of the recession across the world due to the outbreak of COVID-19, Paul Amaning said Ghana’s economy had witnessed one of the lowest inflation rates in about two decades, and emphasised that at the peak of the pandemic, inflation was 11.8 per cent, but dropped to 10 per cent in May, and further dropped to seven per cent in June 2021.

He said the growth momentum had continued in the first quarter of 2021 as the economy registered further non-oil growth of 4.6 per cent.

“When the National Democratic Congress was in government, their economic mismanagement took us to HIPC (highly indebted poor country) status because they had mismanaged the debt level such that there was high inflation, high exchange rate, high interest rate and low growth, and later had to be bailed by the IMF,” Paul Amaning exclusively told Kwaku Owusu Adjei on Accra-based Original TV.

Paul Amaning has said that despite the current economic challenges confronting the country, his government has put in place stringent measures to ensure the smooth running of the economy.

He assured Ghanaians of government commitment to ensuring the successful implementation of all government programs to enhance their living conditions.

Source: Richard Obeng Bediako/Kingdomfmonline.com