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Home Ghana - Economy

Government’s efforts to reverse the economic downturn unprecedented

The Ghanaian Standard by The Ghanaian Standard
May 2, 2022
in Ghana - Economy
Reading Time: 2 mins read
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Dr Archibald Yao Letsa - Government's efforts to reverse the economic downturn unprecedented
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Dr Archibald Yao Letsa, the Volta Regional Minister, has described the determination of the government to reverse the economic downturn caused by the COVID-19 as a step in the right direction.

He said the government was committed to creating more employment opportunities in both the private and public sectors and improving the physical infrastructure for a rebound of the economy.

Dr Letsa, speaking during the May Day celebration in Ho, on the theme: “Protecting jobs and income in the era of COVID-19 pandemic and beyond,” noted that the government was taking measures to protect and support many businesses.

He said the National Micro, Small, and Medium Scale Enterprises (MSMEs) and entrepreneurship policy is the first of its kind in Ghana designed to direct the growth of the sector.

The policy, he said, provided clear policy direction and opportunities for all actors and enabled them to contribute meaningfully to the development of the country. 

The policy was put in place by the government to help SMEs grow into sustainable businesses capable of competing in the regional, continental and global market, he said.

Dr Letsa charged the citizens to work diligently and in truth in “order that together we can increase productivity in all aspects of our national life and make our dear nation greater and stronger.”

He said Government was aware of all the concerns of labour and was not looking unconcerned, but rather had a resolute commitment to addressing the concerns.

“Let me assure you that Government will work assiduously toward protecting the rights and interests of workers to fully utilize your potential to contribute to nation-building,” Dr Letsa noted.

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He said Government was also committed to ensuring a suitable pension for all pensioners and would continue to compensate them appropriately for their services to the country.

We have and will also continue to ensure prudent management of the tier one contributions of workers to guarantee good investment and returns on the investment of pension funds, he added.

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