Ghana News

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


Ghana plans to invest 100 billion Ghana cedis (about 17 billion U.S. dollars) to revitalize the post-COVID-19 economy, said Ghanaian President Nana Addo Dankwa Akufo-Addo on Tuesday.

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

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

He added that despite 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 percent in 2020. This has, however, been revised downwards to about two percent due to the impact of COVID-19 on economic activities.

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

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