The Ghanaian economy was hit when the novel coronavirus enters the shores of the country. Business were partially or fully closed as part of measures taken to fight against the deadly virus.
However, in President Nana Akuffo-Addo’s 18th address to the nation, he revealed that, Ghana’s economy is recovering faster than initially anticipated.
He revealed that, “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.”