The Government has developed and is currently implementing one hundred-billion-cedi (GH¢100 billion) Ghana CARES ‘Obaatampa’ Programme to transform, revitalize and modernize the economy, and return it to high and sustained growth for the next three years to cushion the impact of the pandemic.
The key projects under the CARES Programme include: supporting commercial farming and attracting educated youth into commercial farming; building the country’s light manufacturing sector; developing engineering/machine tools and ICT/digital economy industries and fast-tracking digitalization.
Others are developing Ghana’s housing & construction industry; establishing Ghana as a Regional Hub; reviewing and optimizing the implementation of Government flagships and key programs; and creating jobs for young people, and expanding opportunities for the vulnerable in society, including persons with disabilities.
This was announced by President Nana Akufo-Addo when he delivered the State of the Nation`s address.
He said the establishment of the National Development Bank, under the Ghana CARES program, is expected to provide support to businesses in Ghana.
The President added that Government expects economic activity, which has already picked up, to do so even further, following the ongoing vaccination exercise, and the easing of restrictions put in place to curb the effects of the disease. We expect GDP growth to rebound strongly this year to nearly five percent (5%), above the IMF’s 2021 January projection of 3.2% growth for Sub-Saharan Africa for 2021. The medium-term outlook supported by the implementation of the Ghana CARES Programme is bright. We are confident that, together, we will emerge from the COVID-19 pandemic with a stronger and more resilient economy.
Source: Mybrytfmonline.com