President Nana Akufo-Addo has given the assurance that his government will continue to work hard to recover and pull through the economic challenges currently plaguing the country, as efforts are being put in place to revive the economy through the 100-billion-cedi “Ghana Cares Obaatanpa programme.”
He gave the assurance over the weekend while speaking at the 90th Speech and Prize-giving Day of St. Augustine’s College in Cape Coast.
The President indicated that even though the economic crisis brought forth by the COVID-19 pandemic is a global phenomenon, the 100-billion-cedi programme would bring in its wake economic stability, development and prosperity for all Ghanaians.
He noted that nations the world over are going through challenges brought forth largely by COVID-19 and Ghana is no exception.
According to him, 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. Despite the challenges, the government is working hard to address the issues. And I am certain that sooner rather than later, our economy, through the implementation of the government’s 100 billion cedi Ghana Cares Obaatanpa programme, would rebound from the ravages of the pandemic, bringing in its wake stability, development, progress, and prosperity for all Ghanaians,” he stated.
The President announced that the economy grew by a provisional 5.2% in the first three quarters of 2021, with Gross Domestic Product (GDP) growth in 2021 projected at 5.6% as against 0.4% in 2020.
To this end, he emphasised the need to undertake the difficult but necessary fiscal and other measures that would enable the country maintain the 2021 growth and higher rates of growth in the coming years in order to develop, strengthen the economy and help improve the living standards of the people.
“The key interventions to develop the country, and set it apart for greatness, is the pushing of more resources into the TVET sector and a 60-40 science-humanity quota in the country’s senior high schools. This would free up more space for science education and help industrialise the country,” the President added.
He explained that it forms part of government’s strategy to expand technical and vocational opportunities at both the secondary and tertiary levels, and thereby strengthen the linkages between education and industry, as well as empower young people to deploy their skills to employ themselves and others.
The President noted that enough lip service had been paid to the TVET sector, and the government, in view of the challenges facing the sector, had initiated a number of policy measures aimed at improving the coordination of the TVET sector and enhancing the effectiveness of the operations of the training institutions.
“The Ministry of Education is currently undertaking cutting-edge policies to achieve its objective of a 60–40 science–humanity ratio enrollment into senior high schools for its transformation agenda,” he disclosed.
Touching on the country’s democratic credentials, the President noted that the Ghanaian people, for the last 29 years of the 4th Republic, had reposed their trust in the democratic process as the avenue to resolve the myriad of problems the country faces. He added that they had also demonstrated their determination to uphold democratic values and institutions to bring development to the nation.
“There are a few, though, whom I have characterised as ‘restless spirits’, who are not prepared to allow you to complete your education in conditions of calm, peace and stability, and who seek constant turbulence in the governance of the state. This has led, lately, to some irresponsible utterances about coups as panaceas to our problems,” he told the students.
He reiterated that coups had never been, and would never be, durable solutions to the political, economic and security challenges confronting our nation and continent.
“We will continue to resist the rhetoric and advances of coup mongers and coup plotters, and those of us who have the responsibility to safeguard the integrity of the state will employ all legitimate means in a democracy to preserve our free, open system of governance, which is respectful of human rights, the rule of law and the principles of democratic accountability,” he assured.