Vice President Dr. Mahamudu Bawumia says Ghana will work to become more independent after the 19th COVID pandemic in order to restore the economy back on track.
He believes Ghana’s Beyond Aid program, which includes measures such as growing food for jobs, would enable Ghana to quickly recover from the devastating impact of the pandemic.
Ghana Beyond Aid is a national program that aims to turn an economy focused on the production and export of raw materials into an economy based on production and value creation.
During the virtual Eid celebration on Sunday at the GBC studio, the Vice President said: “The President has set Ghana on a path that will allow us to get out of this crisis relatively quickly.”
“As you know, independence is one of the factors of economic growth in countries around the world after the pandemic. They will deal with autonomy in food production, manufacturing and services – this is really the Ghana Beyond Aid that the president was advocating before the pandemic. The path we have taken will enable us to recover from this pandemic faster than any other countries,” he added.
The Bank of Ghana has suggested that the economy has been in a contraction phase since March, the first month that Ghana confirmed coronavirus cases.
According to the BoG, the economy shrank by 2.2% in March 2020 compared to 5.6% growth in the same period last year due to early indicators of economic activity in the first quarter of this year such as obstacles, social detachment and partial Lockdown measures imposed by the government which was introduced in mid-March.
In addition, Finance Minister Ken Ofori-Ata said the struggle against COVID-19 could Ghana lose around GH9.5 billion and increase the country’s budget deficit to around 6.5%.
However, because the coronavirus is still circulating, many stakeholders have asked the country to look within to reduce the impact of a pandemic.
Countries that depend on other countries are considering how to help themselves and how to rely on themselves to survive.