Ghana’s recovery plans are highly credible – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has stated that the recovery programs implemented by his government as a result of the coronavirus pandemic’s devastation are credible.

He believes that through implementing these programs, Ghana will be able to emerge stronger from this moment.

“In Ghana, we have a very credible recovery program, and that is what will allow us to emerge from this era with a better economy, and that is the future we are looking for,” he said.

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When asked about the country’s economic success in a BBC interview on Monday, April 4, Mr Akufo-Addo stated, “I don’t know any economy in the world that is performing well.”

“The Cedi has firmed up a bit.” Ghana and Nigeria, like the rest of the world, are going through a challenging [period]. No country on the planet is immune to the effects of Covid-19 and the [Russia-Ukraine conflict].”

Minister of Finance Ken Ofori Atta has outlined several government initiatives to address the economy’s problems, particularly the Cedi.

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“Discretionary spending will be reduced by 10% more.” The Ministry of Finance is now engaging with MDAs to assess their spending plans for the remaining three (3) quarters in order to achieve the discretionary expenditure cutbacks; ii. these times demand that energy resources be used very efficiently.

“As a result, all political appointees and heads of government institutions, including SOEs, would receive a 50 percent reduction in gasoline coupon allocations from April 1, 2022,” he added.