PRESIDENT AKUFO-Addo yesterday revealed his administration is bent on growing the country’s economy once again and bringing prosperity to Ghanaians.
According to him, the government remains alive to its responsibilities to Ghanaians despite the difficulties of the time, intimating this will only happen “when we continue to invest in the future.”
“Our children will continue to be educated and equipped to run a modern and digitised economy. The Free SHS and Free TVET are the best vehicles we have devised to take us to the realisation of our goal of an educated and skilled workforce,” the President stated.
The statement was delivered in fulfilment of Article 67 of the Constitution which requires that the President, at the beginning of each session and before dissolution of Parliament, should present to Parliament a message on the State of the Nation (SONA).
President Akufo-Addo said the NPP administration came into office with a plan to build a resilient economy and set the country on the path to prosperity.
Pre-COVID
“We were on course, and our performance between 2017 and the beginning of 2020 demonstrates we were making rapid progress. Indeed, in 2017, 2018 and 2019, we recorded average annual GDP growth rates of 7%, making us one of the fastest growing economies in the world,” he noted.
He continued that, “We grew the economy from the cedi equivalent of $54 billion at the end of 2016 to the cedi equivalent of $72 billion in 2020, a 33% increase. Then COVID-19 arrived.”
“This is not something that anyone could have planned for, and the consequences are there for us all to see around the world. The big and established economies of the world have been knocked off their planned trajectory. Countries, where budget deficits were unknown and prohibited by law, suddenly had to accept huge deficits to underwrite social cohesion,” he added.
President Akufo-Addo said the economic devastation of COVID-19 has since the beginning of this year, been further aggravated by the Russian invasion of Ukraine, which has worsened the economic outlook of the entire world.
“We, in Ghana, have not escaped this development, and the consequences are being felt in the rising living costs at our markets and at fuel stations. The terrible events in Ukraine have a direct impact on our lives here in Ghana. Mr. Speaker, 30% of our wheat flour and fertiliser imports come from Russia; 60% of iron rods and other metal sheets are imported from Ukraine; and almost 20% of Ghana’s manganese is shipped to Ukraine,” he disclosed.
But the President said his administration had managed to ensure that “fuel supplies have not been disrupted, unlike in several other parts of the world.”
“The TVET institutions are being upgraded and equipped to enable them train the increasing number of children that we want to attract to that sector to meet the modern needs of our economy.
“This year, I will be commissioning some of the 34 refurbished National Vocational and Technical Institutes (NVTI’s) across the country. The refurbishment comprised the construction, rehabilitation and equipping of laboratories, workshops, additional classrooms, hostels, and administrative offices,” he revealed.
President Akufo-Addo continued that within the next few months, the construction of five technical colleges would begin in various parts of the country, noting that three technical institutes would be upgraded to tertiary status.
“The initial phase for the construction of nine TVET campuses will commence next month in Bosomtwe, Akyem Awisa, Boako, Kenyasi, Patuda, Dambai, Larabanga, Guabuliga and Tolibri. These campuses will have academic facilities, workshops, laboratories, hostels and staff accommodation, and provide further access for training,” he said.
He again indicated that the government was in the process of securing financing for the construction of five STEM universities in five new regions, and mentioned them as Western North, Savannah, North East, Ahafo and Oti regions.
“Steps are also being taken to turn the planned Bunso campus of the University of Environment and Sustainable Development into a stand-alone, independent university focused on the study of Engineering. Construction of this campus is set to begin within the next three months,” he disclosed.
BY Ernest Kofi Adu & Charles Takyi Boadu