Finance Minister Ken Ofori-Atta projects that Ghana’s GDP would grow to more than GH¢1 trillion by 2024.
He disclosed that the nation’s economy is expected to grow from GH¢219.5 billion in 2016 to the record GH¢1 trillion in President Akufo-Addo’s last year in office.
Ofori-Atta stressed the importance of the 2024 Budget in his addressed to the parliament on Wednesday, saying, “Mr. Speaker, the 2024 Budget is even more significant because we will cross the GH¢1 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 at over GH¢1 trillion in 2024 from GH¢219.5 billion in 2016.
“Mr. Speaker, with such a milestone ahead of us, the 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. And we shall do so by ensuring that the enabling factors are in place and accessible to all.
“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.”
The Finance Minister also disclosed that GH¢220 million has been set aside by the government to aid in the relief effort for the Oti, Savannah, and Bono-East Region communities impacted by the Akosombo spill and floods.
