(3 Minutes Read)
Ghana’s Finance Minister, Dr Mohammed Amin Adam, says that Ghana’s economy, which recorded first-quarter growth of 4.7% is on the path of growth and stability and showing strong signs of recovery despite the recent global economic downturn
Ghana’s Finance Minister, Dr Mohammed Amin Adam, says that Ghana’s economy, which recorded first-quarter growth of 4.7% is on the path of growth and stability and showing strong signs of recovery despite the recent global economic downturn. The Minister told a news conference organised by the Ministry of Finance, Bank of Ghana, and the IMF for an update on the economy and the IMF-supported Post COVID-19 Economic Growth programme, that inflation was trending down and growth in the first quarter of the year had been robust at 4.7 per cent.
According to the Minister, the growth in the first quarter soared higher than it was initially programmed and the highest since the first quarter of 2022, and better than the 3.1 per cent recorded in the same period last year. He explained that the macroeconomic environment continued to remain stable as the government implemented the IMF programme.
Read Also:
https://trendsnafrica.com/ghana-loses-usd1-4bn-annually-due-to-illicit-financial-flows/
https://trendsnafrica.com/ghana-to-restructure-its-external-credit-of-usd-5-4-billion/
Inflation has been declining with a strong disinflation process since the beginning of 2023 in response to the ongoing fiscal consolidation, appropriate tightening of monetary policy, and relative stability in the exchange rate. Dr Adam concluded by saying that the government would continue to work to bring stability to the economy and prosperity to the citizens.
