Ghana plans to invest $17bn to revive economy battered by COVID-19


Accra, Jan. 5, 2020  Ghana plans to invest about 17 billion dollars (100 billion Ghana cedis) to revitalise the post-COVID-19 economy, the Ghanaian President, Nana Addo Akufo-Addo, said on Tuesday.

Delivering an address in parliament to conclude his first term in office, Akufo-Addo said the investment aimed to restore the economy on the path of growth and offer hope for the future.

“This programme will anchor bright prospects for the medium-term and create better opportunities in all sectors,” said the president.

He added that in spite of the setbacks to economic achievements due to the outbreak of COVID-19, the government would continue to take prudent measures to restore health to the economy.

“The government will continue to implement prudent fiscal measures to quicken the pace of fiscal consolidation and restore the country to the path of economic recovery,” he added.

The Ghanaian economy was projected to grow at 6.8 per cent in 2020.

This has, however, been revised downwards to about two per cent due to the impact of COVID-19 on economic activities.

Akufo-Addo will take the oath of office Thursday to commence his second term after being declared the winner of the Dec. 7 presidential polls.

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