President Akufo-Addo has assured that the government will continue to work hard to pull through the economic challenges currently plaguing the country.

According to the President, a lot is being done by his administration to revive the economy through the 100-billion-cedi “Ghana Cares Obaatanpa programme.”

Speaking at the 92nd Speech and Prize-giving Day of St. Augustine’s College in Cape Coast on Saturday, 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 stability, development, and prosperity for all Ghanaians.

He indicated: “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.”

Ghana Cares Obaatanpa programme would help stabilize the economy- Akufo-Addo assures

He, however, indicated that 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 assured.

Ghana Cares Obaatanpa programme would help stabilize the economy- Akufo-Addo assures

The President noted that the economy grew by a provisional 5.2% in the first three quarters of 2021, with GDP growth in 2021 projected at 5.6% as against 0.4% in 2020.

According to him, there is a dire need to undertake the difficult but necessary fiscal and other measures that would enable the country maintain the 2021 and higher rates of growth in the coming years in order to develop and strengthen the economy and help improve the living standards of the people.

Ghana Cares Obaatanpa programme would help stabilize the economy- Akufo-Addo assures

President Akufo-Addo said among 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, he indicated, would free up more space for science education and help industrialize the country.

Ghana Cares Obaatanpa programme would help stabilize the economy- Akufo-Addo assures

“The strategy is 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.”

Ghana Cares Obaatanpa programme would help stabilize the economy- Akufo-Addo assures

He said enough lip service has been paid to the TVET sector, and the government, in view of the challenges facing the sector, has 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.

Ghana Cares Obaatanpa programme would help stabilize the economy- Akufo-Addo assures

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.

Ghana Cares Obaatanpa programme would help stabilize the economy- Akufo-Addo assures

At the ceremony, the President commissioned a new chapel, a new centre of modern learning—an expanded computer laboratory, and also promised to get the college a new 60-seater bus.