General News Wed, 28 Oct 2020
Minister of Finance Ken Ofori Atta has stated that President Nana Addo Dankwa Akufo-Addo has shown leadership in the fight against the coronavirus pandemic.He said this on Wednesday, October 28 when he presented the government budget statement for the first quarter of 2021 in Parliament.
He explained that whether it is to do with the crisis of ‘Dumsor’, the crisis of homegrown economic mismanagement, or the imported crisis of a global pandemic like the novel coronavirus, it is when crises hit, that the people see and feel who a real leader is and who is not.
“Earlier in March, President Akufo-Addo told the nation ‘we know how to bring the economy back to life. What we do not know is how to bring people back to life. We will therefore protect people’s lives, then their livelihoods’. Mr. Speaker, those words were truly profound and true to his character, the president has put his leadership skills just where his mouth is.
“Government set out to protect people’s lives, and then their livelihoods as well. The whole world and more importantly, the vast majority of Ghanaians know that the President and his team have managed the Covid-19 crisis far better than most countries in the world.
“Indeed our efforts have been adjudged as among the best three in the world. The robustness of our macro-economic fundamentals and the efficacy of the government’s COVID mitigation measures have been borne out by recent indicators. According to the Bank of Ghana’s surveys in August 2020, consumer confidence is bouncing back strongly and is currently above pre-COVID-19 lockdown levels.
“Business confidence has also increased, although below pre-lockdown levels. About 95 percent of businesses surveyed showed strong optimism, reflecting the improving macroeconomic conditions, stability in the exchange rate, lower input prices, moderation in lending rates, and positive industry prospects.
“Accordingly, the projected GDP growth rate of 2020 reported in July has been revised from 0.9 percent to 1.9 percent to reflect these dynamics. As the Bank of Ghana stated ‘the green shoots of a rebound in economic activity’ are already with us. We must be thankful to God for these encouraging developments.”
Source: 3 News