The Minister of Finance, Dr Mohammed Amin Adam has asserted that Ghana’s economy is heading towards stabilisation.
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He credits this to the nation’s robust economic advancement and resilient recovery.
He made these comments during a press briefing following the Spring Meetings in Washington on Sunday, April 21, 2024.
The Minister highlighted that the primary deficit stood at 4.3% of the Gross Domestic Product (GDP) by the end of 2022.
He emphasized that by the conclusion of 2023, the primary deficit had diminished significantly to just 0.3%, marking a four-percentage point decrease.
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He expects a surplus of 0.5% of GDP by the end of this year and 1.5% of GDP by next year.
“For example, the primary deficit by the end of 2022 was 4.3% of GDP. By the end of 2023, the primary deficit had reduced to just 0.3% which is about 4 percentage point decline in the primary deficit. We are expecting to end this year with a surplus of 0.5% of GDP and then next year to 1.5% of GDP.”
“And so Progress is good, recovery is strong, and we are heading very quickly to stabilisation which is what we need to generate growth,” he added.
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