Ghana's economy to fully bounce back after 3 years or more - Chartered Economist

Chartered Economist, Emmanuel Amoah Darkwa, has posited that Ghana’s economy can fully recover from the effect of COVID-19 after three years.

He noted however that the period anticipated for Ghana’s economy depends on what we do now as the period can extend if the right measures are not put in place.

Speaking in an interview with Happy FM’s Sefa Danquah on the ‘Epa Hoa Daben’, he said: “The impact of COVID-19 has not been little. The recovery will be U-shape. We will crawl before we rise. It will take us some time to recover.

When it comes to the full bounce back of Ghana’s recovery, I don’t anticipate less than 3 years.

Our recovery however, depends on what we do now. That can tell if it will be faster than expected or slower than expected”.

Dr. Darkwa noted that while he doesn’t expect so much from the Government, he believes that “consolidating our recovery should be the focus”.

President Nana Akufo-Addo in his State of the Nation Address, mentioned that “the global pandemic of COVID-19 threatened to derail all the progress chalked in the first three years of my [his] administration. Its impact has led to the revision of GDP growth for 2020 from 6.8% to 0.9% and later to 1.9%.”

He added however that the Government has been “able to stabilise the economy, exited satisfactorily from the IMF program and restored confidence in the economy”.