The Minister of Finance, Dr. Mohammed Amin Adam, categorically stated that the local economy has rebounded stronger than before.<\/p>\n Addressing the press on Tuesday, December 3, 2024, he noted a growth of 5.8% and a downward trend in the inflation rate adding that despite the earlier economic crisis the country faced, fiscal discipline has been maintained.<\/p>\n Dr. Amin Adam indicated that the country’s growth was largely influenced by ICT and digitalization.<\/p>\n He said, “The Ghanaian economy has rebounded and indeed, has done so very strongly… While the nominal size of the Ghanaian economy was US$56 billion in 2016, by the end of 2023, the nominal size increased to US$76 billion, representing an increase of US$20 billion over 7 years.”<\/p>\n “Other notable achievements on the economic front include… a strong recovery with growth averaging 5.8% for the first half of 2024, which is the highest recorded in the last 5 years. Inflation is trending downwards, and the cedi is gaining strength. In an election year, we\u2019ve maintained fiscal discipline,” Dr. Amin Adam added.<\/p>\n The finance minister urged Ghanaians to remember the sacrifices made by the government to bring the economy back on a sound footing.<\/p>\n It would be recalled that the local economy took a downward trend in 2020 after the country was hit by the deadly coronavirus pandemic and subsequently affected by the Russia-Ukraine war.<\/p>\n As part of measures to stabilize the economy, the government approached the International Monetary Fund (IMF) to seek US$3 billion in financial assistance.<\/p>\n SA\/MA<\/p>\n![\"Minister](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/373\/37317576.295.jpg\" "\\"Minister")
play video<\/span>Minister of Finance, Dr Mohammed Amin Adam<\/span><\/span><\/p>\n<\/div>\n