President Nana Addo Dankwa Akufo-Addo says the current economic challenges is not only facing Ghana as many other countries across the globe are also confronted with same issue.
He said the challenges are partially occasioned by the coronavirus pandemic.
“Our nation, and indeed every country on the face of the planet, is going through challenges brought forth largely by Covid-19.
“Ghana is not the only country faced with extraordinary increases in global freight rates, stringent inflationary pressures, dramatically rising fuel prices, unprecedented volatility in stock markets, and tighter global financing conditions. These are global phenomena” President Akufo-Addo made the observation on Saturday, March 19, 2022 when he joined past and current students of St. Augustine’s College in Cape Coast to mark the school’s 92nd Speech and Prize-giving Day.
President Akufo-Addo expressed optimism that Ghana will soon be out of the woods with the implementation of the Ghana Coronavirus Alleviation and Revitalisation of Enterprises Support (CARES) Programme.
“I am certain that sooner rather than later, our economy, through the implementation of the government’s ¢100 billion Ghana CARES Obaatanpa programme, would rebound from the ravages of the pandemic, bringing in its wake stability, development, progress, and prosperity for all Ghanaians.”
Recent hikes in fuel prices have brought in their wake high cost of living with transport fares and price of goods and services going up.
The President assured that there is the need to take difficult but necessary measures in order to revive the economy.
Minister of Education, Dr. Yaw Osei Adutwum assured the school of government’s readiness to provide the needed support for its development as we equip the students with 21st Century skills in the transformation of the country.
President Akufo-Addo during the occasion commissioned a new chapel and a new computer laboratory which was built through the efforts of old boys in partnership with government.
He therefore promised the school a new 60-seater bus.
By Vincent Kubi