COVID-19: Economy recovering faster than anticipated-Prez

President Nana Addo Dankwa Akufo-Addo has opined that our economy is recovering faster than anticipated in the face of the coronavirus outbreak.

Delivering his 18th national address on the management of the COVID-19 outbreak, he said business confidence has increased with stability in the exchange rate.

He indicated that consumer spending, industrial consumption of electricity among others have all reached pre-lockdown levels.

”On the economic front, according to the Bank of Ghana, the Ghanaian economy is recovering faster than initially anticipated. Consumer confidence is bouncing back strongly, and is today above pre-lockdown levels. Business confidence has also increased, reflecting the improving macroeconomic conditions, stability in the exchange rate, lower input prices, moderation in lending rates, and positive industry prospects. Consumer spending, industrial consumption of electricity, and construction activities have all reached pre-lockdown levels, whilst tourist arrivals and port harbour activity are gradually edging upwards,” he said.

He also announced the lifting of the ban on conferences, workshops, and award events but in strict adherence to the covid-19 safety protocols.

Funerals are limited to 100 persons with football activities set to resume in two weeks.

”The strategic, controlled, progressive, safe easing of restrictions continues, with its over-arching objective being to restore our lives and economy back to normal. SHS 2 and JHS 2 students are back in school, as are some students in tertiary institutions and colleges. Indeed, the academic year for new and continuing University students will commence from January 2021. Football, the passion of the nation, will return in two-weeks; private burials, still, with a maximum of one hundred (100) persons, are being performed; and the limit on the numbers of persons who can attend conferences, workshops, and award events, has been lifted, subject to the strict adherence of COVID-19 protocols,” he added.


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