Ghana’s economy is bouncing back stronger – Finance Minister

The Minister of Finance, Dr. Mohammed Amin Adam, assured Ghanaians that the country’s economy is steadily recovering after years of turmoil.

Addressing the crowd at the commissioning of the watermelon factory in Walewale, Dr. Adam expressed optimism about Ghana’s financial trajectory, highlighting improvements in key economic indicators.

“We are witnessing a significant turnaround,” he said confidently. “Macroeconomic stability is rapidly being restored. Ghanaians are beginning to see real, tangible progress every day.”

He also noted that Ghana’s economy, which was initially forecast to grow by just 1.5% in 2023, had outperformed expectations by hitting 2.9%—a signal, he said, of better days ahead.

This growth reflects a broader recovery from economic challenges that were exacerbated by the global COVID-19 pandemic, disruptions in global supply chains, and inflationary pressures.

Dr. Adam pointed to Ghana’s 5.8% GDP growth rate in the first half of 2024 — a figure that exceeded pre-pandemic levels recorded in 2019 by 0.4 percentage points. “This shows that we are not just bouncing back,” he remarked, “we are surpassing where we were before the crisis.”

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