Economic growth has doubled under Akufo-Addo – Ofori-Atta

Ghana’s economy has grown by the double since 2017 when Nana Addo Dankwa Akufo-Addo became President, the Minister of Finance has said.

He said economic growth rebounded strongly from 3.4% in 2016 to an average of 7% under the Akufo-Addo-led government while year-on-year inflation has fallen from 15.4% in December 2016 to 7.6%.

This inflation rate, according to Mr Ofori-Atta, is the lowest in 27 years.

He made this known on Wednesday while delivering the 2020 budget statement and economic policy of government in Parliament.

It is in fulfilment of Article 179 of the constitution and Section 21(3) of the Public Financial Management Act 2016 (Act 921).

The Finance Minister described the economic progress under the incumbent government as “miraculous”.

He said despite the clean-up in the banking sector, it is on the rise again.

“This is good for Ghana because when the banks are strong the economy is strong.”