President Nana Akufo-Addo had told United Nations General Assembly that the significant progress had been made by Ghana between 2017 to 2020, where an average growth rate of 7% was recorded, had been eroded.
He recounted his statement at the 2017 UN General Assembly, where he indicated that he wanted to build an economy that was not dependent on charity and handouts.
Addressing the 76th United Nations General Assembly meeting in New York, Nana Akufo-Addo said “In 2020, when the global economy and sub-Saharan Africa’s contracted by 3.5% and 2.1%, respectively, Ghana was one of the few countries that produced a positive growth rate. This is a testament to our determination to build a Ghana Beyond Aid,” he said.
However, he stated that many economies in Africa are in recession, as the virus’s impact on economies and livelihoods has been devastating.
“The latest numbers from the African Development Bank indicate that African economies, which contracted by 2.1% in 2020, are yet to return to pre-pandemic levels. More than thirty million Africans fell into extreme poverty in 2020, and nearly forty million could do so in 2021,” he said.
The social impact of the pandemic, President Akufo-Addo reiterated, “has been devastating; over one hundred and three million African jobs have been lost. Women, who account for forty percent (40%) of total employment, have been most hard hit.”
Source: Mybrytfmonline.com
