Finance Minister, Dr Mohammed Amin Adam, has disclosed that the economy is demonstrating robust recovery, registering a 4.7% growth in the first quarter of 2024.
“Our economy grew by 4.7% in the first quarter of this year, exceeding our expectations. This growth is a testament to the resilience of our economic policies and the hard work of Ghanaians,” he stated during the presentation of the mid-year budget review in Parliament on July 23.
Dr Adam attributed this positive performance to effective policy measures, robust economic management, and the unwavering spirit of the Ghanaian people.
He noted that the government’s strategic interventions had created a stable and conducive environment for growth.
The government has focused on several key areas to drive economic recovery, including fiscal discipline, investment in critical sectors, and support for Small and Medium-sized Enterprises (SMEs).
Stressing the importance of maintaining fiscal discipline, Dr Adam explained, “Despite the global economic headwinds, our government remains steadfast in its commitment to fiscal discipline. This discipline is crucial for maintaining economic stability and fostering a conducive environment for investment and growth.”
Dr. Adam said the key drivers of the economic recovery include government investments in infrastructure, such as roads and hospitals, including the ongoing Agenda 111 project, which has generated employment and boosted economic activity across multiple sectors.