Ghana’s economy on the path of stability – Amin Adam

Minister of Finance, Dr. Mohammed Amin Adam, has emphasized the nation's trajectory towards economic stabilization, citing robust progress and a resilient recovery. Speaking at a press conference following the Spring Meetings in Washington on Sunday, April 21, 2024, Dr. Adam underscored Ghana's substantial strides in fiscal management. Highlighting key indicators, Dr. Adam noted that Ghana's primary deficit, which stood at 4.3 per cent of the Gross Domestic Product (GDP) by the end of 2022, experienced a significant reduction to a mere 0.3 per cent by the end of 2023, marking a notable four-percentage point decline. Looking ahead, Dr. Adam anticipates further improvement, forecasting a surplus of 0.5 per cent of GDP by the end of the current year and an increase to 1.5 per cent of GDP by the following 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.' Source: Ghana Web