Finance Minister, Dr Mohammed Amin Adam, has reaffirmed that Ghana’s economy has come back to life following the difficulties faced in the last three years.
He said macroeconomic stability is fast returning to our country
The Karaga lawmaker said this while speaking at a rally in Saboba in the Northern Region last week.
“Ghana’s economy has come back to life following the difficulties we faced in the last three years. Macroeconomic stability is fast returning to our country. We all can see the indicators improving by the day.
“And now we want to focus on growth, economic growth, which has also already demonstrated that the economy has recovered strongly. Last year, we were supposed to grow at 1.5 percent, but we grew at 2.9 percent. Half this year, we were supposed to grow at 3.1 percent, but we grew at 5.8 percent.”
President Akufo-Addo also made similar comments last week that the economy is recovering.
President Akufo-Addo said on Wednesday, 20th November 2024, when he commissioned The Bank Square, the new headquarters of the Bank of Ghana, located in the heart of Accra that “Recent data from the Bank of Ghana shows that Ghana’s economy is firmly on the path of recovery. Provisional GDP growth of 6.9% in the second quarter of 2024, with a robust non-oil growth of 7.0%, highlights the strength of our agriculture, industry, and services sectors.
“Inflation has been sharply reduced from 54.1% in 2022 to 22.1% as of October 2024, bringing relief to households and businesses alike. These achievements are further bolstered by a trade surplus of $2.78 billion and international reserves of $7.5 billion, which provide a strong buffer against external shocks,” he said.
He added “This milestone is a testament to the Bank of Ghana’s commitment to sound monetary policies under the leadership of Governor Ernest Addison and his dedicated team. I applaud their efforts, as well as the creativity and expertise of the architects, engineers, and contractors—especially GoldKey Properties, a wholly Ghanaian entity—that brought this vision to life. Together, we are building a foundation for a resilient economy, inclusive growth, and a brighter future for all Ghanaians.
“As we celebrate this achievement, I call on all of us to continue working together to build an economy that is stable, inclusive, and prosperous. The Bank Square is not just a symbol of what we have accomplished; it is an inspiration for what lies ahead. Let us remain united in our efforts to make Ghana great and strong!”
