After suffering major hurdles over the last two years, Ghana’s Finance Minister, Dr. Mohammed Amin Adam, has declared that the country’s economy is showing a solid resurgence.
“This year, our economy will take the world by surprise,” Dr Adam declared on Saturday during a UK Town Hall gathering.
“I can assure you that there is a significant economic upturn. We are experiencing a robust recovery, which even the World Bank and IMF find remarkable. Everyone is taken aback. While they predicted our GDP would expand by 1.5% last year, it grew by 2.9%. They predicted that we would expand by 3.1% in the first quarter of this year, but we grew by 4.7%.
He predicted that the economy would expand faster than everyone had anticipated.
Additionally, he revealed that the Ministry of Finance has been instructed by President Nana Addo Dankwa Akufo-Addo to pay out GH¢1.5 billion to clients affected by the banking sector cleanup.
While acknowledging that the government shouldn’t be held responsible for its investment choices, Dr Adam also pointed out that errors were made in this instance and that the public was misinformed.
He said that the effects of the clean-up had caused significant suffering for some people and that others had even lost their lives.
