The Minority in Ghana’s Parliament praises a 5.7% GDP growth for 2024, the highest in five years. This surpasses the budget targets and indicates economic transformation. Dr. Mohammed Amin Adam affirms strong economic health, challenged allegations of data manipulation, and cites a favorable debt-to-GDP ratio.
The Minority in the Ghanaian Parliament has lauded the Ghana Statistical Service’s announcement of a 5.7% real GDP growth rate for the fiscal year 2024. This growth, being the highest in five years, surpasses the initial budget target of 3.1% and the adjusted target of 4%.
Dr. Mohammed Amin Adam, the former Finance Minister, representing the caucus, stated that the industrial sector led this growth with a remarkable 7.1% increase, followed by services at 5.9% and agriculture at 2.8%. He noted that this signals a structural transformation within the Ghanaian economy, representing a significant milestone under the NPP government.
Dr. Adam also addressed allegations regarding the manipulation of fiscal data. He asserted that the robust economy transitioned from the NPP to the new NDC government is validated by various economic indicators, including a debt-to-GDP ratio of 61.8% achieved in 2024, reflecting a successful debt management strategy.
He emphasized, “The manipulation of fiscal data notwithstanding, the strong health of the economy the NPP handed to the new NDC government continues to be vindicated… This is historic, and history will be kind to the Akufo-Addo Bawumia government.”
In summary, the Ghanaian Minority in Parliament has commended the significant GDP growth announced for 2024, attributing it to robust performance across various sectors. The claims of fiscal data manipulation have been countered with evidence supporting the economic health passed to the current administration. This development highlights the Ghanaian economy’s transition towards structural transformation under the NPP government.
Original Source: citinewsroom.com
