The Ghanaian economy will bounce back strongly to nearly 5%, above the International Monetary Fund’s 4.2% for this year.
This comes after it is expected to decline to almost 1.0% of GDP in 2020.
Giving his State of the Nation Address, President Akufo-Addo said the medium-term outlook supported by the implementation of the Ghana CARES Programme is bright, emphasizing that “we are confident that, together, we will emerge from the COVID-19 pandemic with a stronger and more resilient economy.”
He further said that “If we are to oversee the rebirth and growth of our economy, our people must be healthy, and not succumb to COVID-19”.
Beaming with confident, the president said “on 24th February, Government secured the first batch of vaccine doses from the COVAX Facility. The vaccination campaign is currently ongoing, with 262,335 number of Ghanaians receiving the first dose of the vaccines as at 10:30am this morning. The target is to vaccinate 20 million Ghanaians, and government is working hard towards realising this goal.”
“We remain on course to taking delivery of some 17.6 million, six vaccine doses by June, with more to come in the course of the year.”
Other project initiatives
Under the National Electrification Scheme, the President said a total of 1,436 communities have been connected to the national grid, which has increased the national electricity access rate to 85.17% as of October 2020.
“My ambition is that, by the end of my term, the figure will be 100%”.
Also, he said the Ghana National Petroleum Corporation has accelerated petroleum exploration activities in the inland Voltaian Basin, adding, it has successfully acquired and processed 2,538 line kilometre of 2D seismic data, analysed 1,537 geochemical samples, and established a working petroleum system.
Additionally, he said a gas processing plant-train is being constructed in the Western Region to compliment the Atuabo Gas Processing Plant, so as to increase dry gas delivery for power and nonpower users.
The Takoradi portion of the Takoradi-Tema Interconnection Project (TTIP) has been completed with an increased capacity of gas exports from Takoradi to Tema, through the West African Gas Pipeline.
Source: mypublisher24.com