The Akufo-Addo administration’s investment in the educational sector has been defended by Finance Minister Ken Ofori-Atta.
He claimed that investing in education will help people on the African continent fight poverty.
On Monday, June 27, he made this statement at a ministerial gathering in Accra.
“The statistics and research that are currently available on education investment must inspire us. According to the Bill and Melinda Gate Foundation, by 2050, Africa’s GDP per capita will have increased by 39% while investments in human capital will stay constant.
However, he added, “Countries in Africa might see an 88% gain in GDP per capita by 2020 if they raise their spending in the health and education of young people.
He added, “It is staggering to think that we can move from the current 3.3 trillion to 6.6 trillion just by focusing on putting more resources into education.” Even as we raise more funds for education, our government must continue to prioritize education by allocating funds more fairly and efficiently to meet current pressing fiscal needs. As has been said, the best
time to plant tree was 25 years ago, the second best time to plant a tree is today. Let us start today and let finance ministers begin to change their allocating principles.”