The Finance Minister, Ken Ofori-Atta, has announced that the country is on track to achieve a Gross Domestic Product (GDP) of one trillion Ghana cedi by 2024.
This will be the first time in the country’s history that it will reach this milestone, which is a significant improvement from the GH¢219.5 billion inherited by the Akufo-Addo government in 2016.
To ensure that this target is achieved within the final year of President Akufo-Addo’s tenure in office, the government is working hard to protect the foundation for sustained economic expansion.
The Minister pledged to safeguard this foundation for all Ghanaians and particularly for private sector growth.
The government aims to achieve this by ensuring that the necessary conditions are in place and accessible to all, including a reliable energy supply, a stable Cedi, lower inflation and interest rates, access to private sector credit, infrastructure development, food security, national security, and inter-continental market linkages through increasing active platforms such as the AfCFTA.
During his presentation of the budget statement and economic plan for the 2024 fiscal year, the Finance Minister announced on November 15 that the government will maintain economic stability and ensure sustained growth in the medium term.
He expressed his determination to continue on the path of increased growth, currency stability, and disinflation. The Finance Minister believes that the “Nkunim” Budget will allow the country to create decent jobs and wealth for its people sustainably.
He also promised stakeholders that the government would maintain the discipline, compassion, and creativity required to keep the economy stable and ensure robust growth.
