Ghana’s economy showed signs of recovery in 2024, according to the IERPP, which refuted claims of an ongoing crisis by President Mahama. Key indicators such as GDP growth, declining inflation, and stabilization of the cedi suggest positive trends. The report emphasizes the effectiveness of previous government reforms and calls for continued efforts to sustain progress and address remaining challenges.
As of 2024, Ghana’s economy demonstrates clear signs of stabilization, as reported by the Institute of Economic Research and Public Policy (IERPP). This policy think tank has refuted President John Dramani Mahama’s assertion of an economic crisis, stating instead that the economy is recovering thanks to the previous Akufo-Addo administration’s efforts. According to the IERPP, Ghana is not experiencing a crisis but is in a recovery phase, as outlined in a statement following President Mahama’s State of the Nation address on February 27.
In summary, while Ghana faced significant economic challenges in 2022 and 2023, the outlook for 2024 appears more favorable, characterized by declining inflation and steady growth. The IERPP’s analysis highlights the effectiveness of fiscal reforms and ongoing support from the IMF, dispelling claims of an economic crisis. This transition underscores the importance of continuous efforts in diversification, anti-corruption, and sustainable practices going forward.
Original Source: 3news.com
