Government has projected the country’s economy to exceed GH¢1 trillion in 2024.
According to the Finance Minister, Ken Ofori-Atta, who was presented the 2024 Budget in parliament on Wednesday November 15, the economy under President Akufo-Addo’s final year in office is projected to be valued over GHȼ1 trillion in 2024 from the GHȼ219.5 billion in 2016.
He stated that: “The 2024 Budget is even more significant because we will cross the GHȼ1 trillion Gross Domestic Product (GDP) mark for the first time in our economic history. Let me repeat, Mr. Speaker, Ghana’s economy under President Akufo-Addo’s final year in office is projected to be valued over GH¢1 trillion in 2024 from the GH¢219.5 billion in 2016.
“Mr. Speaker, with such a milestone ahead of us, Government is protecting, at all cost, the foundation for sustained economic expansion. A foundation that has been achieved through the sweat and patience of the Ghanaian people. We pledge to protect this for all our people and especially for private sector growth”.
He emphasised that the government shall do so by ensuring that the enabling factors are in place and accessible to all, saying these will include reliable energy supply, stable Cedi, lower inflation and lower interest rate regimes, access to private sector credit, infrastructure provision, food security, national security, and inter-continental market linkages through increasing active platforms such as the AfCFTA.
“Mr. Speaker, fundamentally, this is a government that is self-aware, reflective and has been open throughout the process to incorporating citizens feedback in preparing this Budget, and as in previous years, we have prioritised stakeholder consultations. Consequently, we engaged with and obtained valuable inputs from key stakeholders, including investors, traders, academia, organised labour, civil society organisations, bankers, development partners, faith-based organisations, and a cross-section of the leadership and other honourable Members of Parliament,” he added.
