Minister of Finance, Mohammed Amin Adam has said that policies introduced by the government of Ghana have rescued Ghana from major global economic recession threats.
The minister, while speaking at the Greater Accra Regional Townhall Meeting and Exhibition event held on Tuesday, August 6, 2024 at the Ghana National Association of Teachers (GNAT) hall, Accra indicated that efforts of the government to maintain economic growth has been tried and tested especially during the COVID-era.
Acknowledging the heavy jab Ghana’s economy suffered post-COVID era, he stated that, “while neighboring countries were recording negative levels of economic growth, Ghana at the height of COVID recorded 0.5% annual growth.”
He added that strategic policies which have been introduced by the government have been structured to alleviate the financial burdens of Ghanaians over the past three years. “No government desires to plunge its citizens into hardship that is why government has effectively managed these initiatives and policies to keep Ghana from recording negative levels of economic growth.”
Addressing external financial aids, he commended the government for surpassing a 1.5% target of economic recovery set by the International Monetary Fund in 2023 for Ghana with a relative gap of 2.9%. “We’ve had many challenges that have come as effects of COVID and the Russia-Ukraine war; we have made quick recoveries because of the policies the government introduced. The IMF expected a low economic growth for Ghana and the IMF put us at 1.5% but we defied the odds and grew to 2.9% which is above the IMF’s target for us.”
Some key policies the Minister for Finance highlighted were the School Feeding Program, National Health Insurance Scheme, Free Senior High School and LEAP.