Ghana is not the only country faced with economic difficulties – President Akufo-Addo
President Akufo-Addo has indicated that Ghana is not the only country faced with economic challenges but the world as a whole is going through that.
Blaming the situation on the Covid-19 pandemic the world has been battling with for over two years now.
“Our nation, and indeed every country on the face of the planet, is going through challenges brought forth largely by Covid-19,” he said.
“Ghana is not the only country faced with extraordinary increases in global freight rates, stringent inflationary pressures, dramatically rising fuel prices, unprecedented volatility in stock markets, and tighter global financing conditions. These are global phenomena.”
President Akufo-Addo made this known when he joined past and current students of St. Augustine’s College to mark the school’s 92nd Speech and Prize-giving Day on Saturday, March 19.
He, however, assured that Ghana will be out of the woods sooner than later with the implementation of the Ghana Coronavirus Alleviation and Revitalisation of Enterprises Support (CARES) Programme.
“I am certain that sooner rather than later, our economy, through the implementation of the government’s ¢100 billion Ghana CARES Obaatanpa programme, would rebound from the ravages of the pandemic, bringing in its wake stability, development, progress, and prosperity for all Ghanaians.”
The skyrocketing fuel prices have brought in their wake a high cost of living with transport fares and the price of goods set to go up in the coming weeks.
President Akufo-Addo also added that there is the need to take difficult but necessary measures to revive the economy.
He then unveiled a new chapel and a new centre of modern learning for the school.
The expanded computer laboratory was built through the efforts of old boys in partnership with the government.
President Akufo-Addo also promised to get the school a new 60-seater bus.
