Ghana's economy has seen tremendous turn around – Ken Ofori Attah

The minister of Finance, Mr Ken Ofori Attah says the Ghana's economy has seen a complete turnaround since the Akufo-Addo administration took over the affairs of the country.

He said economic growth has rebounded strongly from 3.4 per cent in 2016 to an average of over 7 per cent during the past 2 years.

He said this on the floor of parliament when he presented the Financial Policy of the government for 2020 to the house on Wednesday

Buttressing the point, the minister said the inflation rate has fallen from 15.4 per cent in December 2016 to 7.6 per cent in September 2019, the lowest since March 1992 adding that the 91-day treasury bill rate also fell steadily from nearly 17 per cent in December 2016 and now stands at 14.7 per cent;

“The fiscal deficit has declined from 6.5 per cent of GDP in 2016 to 4.5 per cent at the end of the third quarter of 2019; On the external front, the trade deficit has improved from US$1.8 billion in 2016 to a surplus of US$2.6 billion in August 2019,” he told the Parliamentarians.