The Vice President Dr. Mahamudu Bawumia has noted government will roll out strategies for the economy to recover from the impact of the global shocks in the next few weeks.

He says though he acknowledges cost of living and inflation have increased, he is optimistic the initiatives will set the economy on sound footing.

Dr Bawumia was speaking at the Biennial joint session of the African Methodist Episcopal Zion Church, (A.M.E.Zion) church in Accra Thursday, August 25, 2022.

The Veep attributed these challenges to the COVID-19 pandemic and the Russia-Ukraine war which grounded the global economy.

Recalling the numerous digital initiatives by government to set the economy on sound footing despite the challenges, he expressed grave concern about the rising cost of living and inflationary trends currently affecting the economy, even though not peculiar to Ghana.

However, he indicated government will roll out strategies to curb the impact in the shortest possible time.

“The COVID 19 pandemic and the war between Russia and Ukraine have placed a strain on the global economy and ours have not been spared either. If you look around the world, you’ll see that inflation and the cost of living have increased astronomically everywhere. As they say in local parlance ‘nowhere cool’.

“I can say that government is working very hard to address these issues and put our economy back on the path of recovery,” he assured.

By Felix Anim-Appau|