Bawumia Says Economy Bounces Back
The Vice President, Dr Mahamudu Bawumia has stated the says Ghana’s economy is recovery steadily.
He made the statement at the maiden edition of the presidential manifesto gala dinner with CEOs in Accra over the week.
The event was held at the Movenpick Ambassador Hotel under the theme; “Reigniting the Business Economy: A Manifesto for Innovation, Accountability, and Sustainable Development.”
According to the Vice President, Dr. Bawumia, the road to recovery is on course as Ghanaian economy and subsequently many Ghanaian businesses have suffered from the malaise of the recent global economic crisis, the worst since 1933.
However, he is delighted to note that the economy is on swift path to recovery.
“However, the good news is that the Ghanaian economy is recovering. The Ghanaian economy expanded by 4.8% in Quarter 1 and 6.9% in Quarter 2 of 2024 – the highest quarterly GDP growth in the past five years,” Dr Bawumia revealed.
“Non-oil GDP growth was equally strong with a growth rate of 5.6% in the first half of 2024, far higher than the 3.8% growth rate in the first half of 2023”, he added.
“The industry sector experienced an average growth of 8.0% in the first half of 2024. The Agriculture and Service sectors also expanded by 5.0% and 4.4% respectively in the first half of 2024,” the Vice President further remarked.
Dr. Bawumia made known of the fact that though the Ghanaian economy has seen significant progress on several fronts, teething challenges remain.
He added “many CEOs, especially those who do business outside Ghana, will know that the challenges we face are common to our sub-regional peers and even throughout the global economy.”
Furthermore, “More than ever, there is a need for continuous innovation if we are to triumph over the challenges that we face as a country. This is why I am proposing to upgrade Ghana through innovative BOLD SOLUTIONS”.
“It is important to note that the NPP government has demonstrated policy innovation in tackling some of the most challenging issues in our country in the last few years,” Dr Bawumia stated.
source frank owusu obimpeh
