Some think tanks have implored the government to put in measures to overcome the challenges facing the nation.
They stated that happenings in Europe as well as governance and security challenges in the West African sub-region would have dire consequences on the local economy.
The think tanks were the Ghana Center for Democratic Development (CDD-Ghana) and IMANI Africa.
They also asked the government to account for what caused the local economy to plummet and provide solutions to deal with the situation because political future largely depended on the solutions proposed to stabilise the economy.
Dr Kojo Asante, the Director of Advocacy and Policy Engagement at the CDD-Ghana, cautioned the citizenry to prepare for a tough year because happenings in Europe, governance and security challenges in the West African sub-region would have dire consequences on the local economy hence admonished them to prepare.
He urged the government to put in place measures to overcome the challenges ahead since the nation would have to brace herself towards governance and security challenges, adding that “we have to brace ourselves for a tough 2022 since noises about war or actual war in Europe and in West Africa will bring significant external shocks to the economy.
“Citizens must show resilience and government must govern well if we are to overcome such challenges in the months ahead,” Dr Asante said.
For his part, Franklin Cudjoe, the Founding President of IMANI Africa, entreated Vice President Dr Mahamudu Bawumia, who is also the Head of the Economic Management Team, to inform Ghanaians what went wrong with the apparent buoyant economy and what could be done to salvage it and his political future depended on reviving the economy.
President Nana Addo Dankwa Akufo-Addo during his Christmas Message to the nation blamed the woes of the economy on the COVID-19 pandemic which has affected every sector of the global economy and national life, visiting its ravages on virtually everything.
He said there are difficult times for the nation, undoubtedly, 2021 had proven to be a tough year not only for the nation but also for everyone on the planet however, the economy, which was growing at an average of seven percent in 2017, in 2018 and in 2019, grew by 0.4 per cent in 2020, because growth in industry, services, tourism and manufacturing sectors, which drive the economy and provide jobs for many Ghanaians, contracted dramatically in 2020.
President Akufo-Addo indicated that as a result of the sudden disruption in the global supply chain and the steep decline in the global economy sent the global economy into recession which he claimed was the stark reality of the situation, not an excuse but for the bold and timely measures put in place by the government to cushion Ghanaians against the worst effects of the pandemic, the situation would have been more precarious. -3news.com
