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Ghana’s economy growing faster despite Covid-19 impact – Danquah Institute

By Eric Nana Yaw Kwafo
Politics Ghana’s economy growing faster despite Covid-19 impact – Danquah Institute
NOV 24, 2021 LISTEN

The Danquah Institute (DI) has expressed its delight in the fast-paced recovery of Ghana's economy despite the devastating impact of the Coronavirus (Covid-19) pandemic.

According to the Institute, the current growth of the economy has been possible due to the strategic interventions made by the ruling New Patriotic Party (NPP) government.

“Danquah Institute is happy to note that the recovery strategies implemented by the NPP government in the wake of the COVID-19 pandemic have yielded dividends.

“The economy grew at 3.1% and 3.9% respectively during the first two quarters of this year. On average, therefore, the economy grew at 3.5% during the first half of the year – which is higher than the 2016 growth rate,” a release from the Danquah Institute after a review of the 2022 Budget Statement has said.

It adds, “Therefore, even though the adverse effects of the COVID-19 pandemic still remain, the Ghanaian economy is growing faster than it was when the current NPP Government took over power in January 2017.”

The Danquah Institute believes that with a strong macroeconomic foundation, local production is set to increase to involve more Ghanaians in production, widen the tax net to reduce overdependence on aid, and reduce imports and rather increase exports to ensure a stronger cedi.

“DI humbly calls on all Ghanaians to support the budget agenda. Such an opportune moment to disentangle the economy from dependence on aid must not be allowed to slip by. The Institute, therefore, urges Government to continue to deepen the current efforts in transforming our economy. God Bless our homeland Ghana and continue to make it great and strong,” the statement concludes.

Eric Nana Yaw Kwafo
Eric Nana Yaw Kwafo

Journalist

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