Politics

Wait a while, Ghana’s economy will soon grow – Finance Minister assures

Ghana’s Finance Minister, Dr. Mohammed Amin Adam, has predicted a robust economic rebound after two years of significant challenges.

Speaking at a UK Town Hall meeting on Saturday, Dr. Adam expressed optimism about the country’s economic prospects.

He stated that the economy is rebounding strongly and even surpassing expectations. He cited last year’s economic growth, which exceeded projections at 2.9%, and this year’s first-quarter growth, which reached 4.7%, surpassing the projected 3.1%. This growth is a testament to the government’s effective economic management.

The Finance Minister’s prediction is a welcome development for Ghanaians, who have faced economic hardships in recent years. The government’s efforts to revitalize the economy are bearing fruit, and this rebound is expected to have a positive impact on businesses and individuals alike.

In addition to the economic rebound, Dr. Adam announced that President Nana Addo Dankwa Akufo-Addo has directed the Ministry of Finance to release GH¢1.5 billion to customers affected by the banking sector clean-up.

This move is aimed at mitigating the impact of the clean-up on affected individuals and businesses.

He acknowledged that mistakes were made during the banking sector clean-up, resulting in hardships for some individuals.

However, he assured that the government is committed to learning from these mistakes and implementing measures to prevent similar occurrences in the future.

“This year, our economy is going to surprise the world.

“I can tell you that this economy is rebounding strongly. We are rebounding strongly, and it is surprising the world, even the IMF, the World Bank. They are all surprised. Last year, they projected our economy would grow at 1.5%, but we grew at 2.9%. In the first quarter of this year, they projected we would grow at 3.1%, but we grew at 4.7%,” Dr. Amin Adam said during a Town Hall meeting held in the UK over the weekend.

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He further stated, “This economy will grow, and it will grow faster than everyone thinks.”

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