Ghana’s economy is set to astonish the world this year – Finance Minister

Finance Minister, Dr. Mohammed Amin Adam, has announced that the country’s economy is undergoing a robust rebound after enduring significant challenges over the past two years.

He noted that all key indicators are trending positively and are expected to improve further.

Speaking at a UK Town Hall meeting on Saturday, June 22, Dr Amin Adam emphasized that even international institutions like the IMF and the World Bank are astonished by Ghana’s economic recovery.

“This year our economy is going to surprise the whole 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 will grow at 1.5%, we grew at 2.9%. This year in the first quarter of this year, they projected we will grow at 3.1% we grew at 4.7%.”

“This economy will grow, and it will grow faster than everybody thinks,” he said.

Meanwhile, Dr Amin Adam disclosed that President Nana Addo Dankwa Akufo-Addo had directed the Ministry of Finance to release GH¢1.5 billion to customers affected by the banking sector clean-up.

Read also: Akufo-Addo orders Finance Ministry to release ¢1.5bn bailout to banking sector clean-up victims

Dr Adam acknowledged that while the government should not be held accountable for individuals’ investment decisions, mistakes were made, and people were not adequately informed.

He noted that some individuals had suffered greatly, with some even losing their lives due to the impact of the clean-up.