The Minster of Lands and Natural Resources, Samuel Abu Jinapor, has said Ghana’s economy is recovering contrary to cynicism by the opposition that the economy is deteriorating.
He said “Out of the efforts of President Nana Addo Dankwa Akufo-Addo, the economy is recovering”.
Mr Jinapor, who was contributing to the ongoing debate on the 2022 budget statement and economic policy of government, on Wednesday, at Parliament, said the budget sought to respond to Ghana’s peculiar challenges that has arisen as a result of COVID-19, and must be supported.
He said: “Mr Speaker, just on Monday, the Bank of Ghana reported in its updated composite index economic activity that the annual growth rate for September 2021 was 11.2 per cent, compared to 10.8 per cent in 2020 and 4.2 per cent in 2019.
“This is a sign of a sustained recovery from the global pandemic and that is a clear indication that the measures being taken by President Akufo-Addo and his government is leading to recovery of the economy.”
Mr Jinapor, who is also the Member of Parliament for Damango, said “this budget would pull this country out of the doldrums and it must be supported by all.”
Mr Jinapor said the John Mahama-led government “left the growth rate at 3.4 per cent of GDP in 2016,” a trend which has been reversed since the NPP assumed office in 2017.
He said “Mr Speaker, in spite of all the difficulties the economy has undergone, today …the GDP growth stands at 3.6 per cent. Our worst growth was their best. Even with COVID-19 we are doing far better than them when they did not have a crisis on their hand.”
Mr Jinaporsaid in as much as government was not oblivious of the hardships of Ghanaians as a result of COVID-19, steps were being taken to bring the economy back on track.
“It is clear that where we find ourselves as a country, the difficulty Ghanaians are going through as a result of COVID-19, we require competent, visionary, far-sighted and digital managers of the economy,” he stated.
Mr Jinapor noted that government was taking steps to solve the unemployment problem with the introduction of the Nation Builders Corps, One District One Factory, Planting for Food and Jobs, amongst other interventions.
He said YouthStart intervention proposed in the budget, demonstrated that President Nana AddoDankwaAkufo-Addo and his government have a plan to resolve the unemployment situation in the country.
“Young men and women, what President Akufo-Addo is telling you is that whatever idea you have, just start and government is going to provide GHC1 billion as funding for the youth, so that you can create your own resources,” Mr Jinaporsaid.