Minister of Finance, Dr. Mohammed Amin Adam, has stressed the country’s progress towards economic stabilization, citing substantial strides and a resilient recovery.
Addressing reporters at a press conference after the Spring Meetings in Washington on Sunday, April 21, 2024, Dr. Adam highlighted Ghana’s significant advancements in fiscal management.
Pointing out key indicators, Dr. Adam mentioned that Ghana’s primary deficit, which was 4.3 per cent of the Gross Domestic Product (GDP) at the close of 2022, saw a notable reduction to just 0.3 per cent by the end of 2023, marking a remarkable four-percentage point decrease.
Looking forward, Dr. Adam expects further enhancements, projecting a surplus of 0.5 per cent of GDP by the end of the current year and a rise to 1.5 per cent of GDP by the subsequent year.
He indicated: “Progress is good, recovery is strong, and we are heading very quickly to stabilization which is what we need to generate growth.”