Economy

Ghana’s finance minister urges investors to support economic growth

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The minister of finance, Dr. Mohammed Amin Adam, has called on the investor community to support the nation’s economic recovery, highlighting its impressive growth that exceeds projections.

Speaking at a side meeting with Rand Merchant Bank investors during the 2024 African Development Bank Annual Meetings in Nairobi, Kenya, he emphasized Ghana’s efforts to reduce the cost of doing business through pragmatic policies and stakeholder engagement.

Dr. Adam reaffirmed the Government of Ghana’s commitment to fiscal prudence, particularly in maintaining expenditure limits during this election year. This fiscal discipline is crucial for the success of the country’s engagement with the IMF program.

“Inflation has decreased from 54 per cent in 2022 to 25 per cent today and is expected to drop to 15 per cent by the end of the year. As a government, we are also seeing a decline in interest rates. We are committed to avoiding overspending during this election year,” Dr. Adam stated.

He highlighted the government’s deliberate initiatives to support Small and Medium Enterprises (SMEs), which play a vital role in employment and GDP contribution. These support mechanisms include access to finance, market opportunities, digital marketing, and managerial expertise.

“The growth we are targeting requires sustainable investment, and that is why we continue to rely on your esteemed partnership,” he added.

Dr. Adam was accompanied by the 2nd Deputy Governor of the Bank of Ghana, Mrs. Elsie Addo Awadzi, along with officials from the Ministry of Finance, Bank of Ghana, and the Ghana Investment and Infrastructure Fund.

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