Ghana to prioritize economic growth in 2024

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Vice President with delegation from the World Bank
Vice President with delegation from the World Bank

The Ghanaian government will focus on boosting economic growth in the country amid a stable macroeconomic environment in 2024, an official said on Tuesday.

Eva Mends, chief director of the Ministry of Finance, pledged at a media briefing, saying the focus of the 2024 budget statement presented to parliament last Wednesday was to deliver this growth.

Mends said the policy interventions spelled out in the budget, including the raft of tax measures to cushion citizens, will culminate into growth in a stable macroeconomic environment.

She said these measures will ensure the economy gradually leaps from recovery to stability. “Our economy has turned the corner with macroeconomic indicators moving in the right direction.”

“The exchange rate has been stabilizing against the major trading currencies and economic growth has been resilient and exceeded projections. We can beat our chest because our future growth prospects are brighter,” she added.

Over recent years, Ghana has been battling a severe economic meltdown with high inflation, a volatile exchange rate regime, and debt overhang, necessitating a 3 billion U.S. dollars loan from the International Monetary Fund to help the country address its economic crisis.

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