By Ebi Kesiena
Dr. Mohammed Amin Adam, Ghana’s Minister of Finance, has expressed satisfaction with the significant economic recovery witnessed in the country.
According to him, Ghana’s economy is steadily returning to its pre-COVID-19 strength, marking a positive trajectory.
Speaking as the special guest of honor at the Health Sector Annual Summit 2024, Dr. Adam conveyed his optimism regarding the downward trend in inflation, signaling a promising path towards economic recovery.
He anticipated a further decline in inflation by the year’s end.
“The economy is experiencing a robust rebound, and I am pleased to report that our recovery is gaining momentum. Despite facing significant challenges, the future looks increasingly promising.
“Thanks to the implementation of our policies, economic growth has surpassed initial projections. Despite an expected growth rate of 1.5% in 2023, we achieved a growth rate of 2.9%.
READ ALSO: FIFA Announces Plans For Inaugural Women’s Club World Cup, Appoints Secretary-General
“The positive indicators we are observing in the data suggest that this year will witness substantial growth. The decline in inflation is also noteworthy, dropping from a peak of 54% at the end of 2022 to 25% within 12 months.
“We are working diligently to further reduce inflation to 15% by the end of this year, with the ultimate goal of achieving single-digit inflation by the end of 2027.”
Meanwhile, Vice President Dr. Mahamudu Bawumia disclosed that the government has obtained financial clearance to settle outstanding arrears owed to trainee nurses nationwide.
During a meeting with nurses and midwives in Accra, Dr. Bawumia announced the approval of 177 million Ghana cedis by the Ministry of Finance for disbursement to trainee nurses. He assured that the funds would be transferred promptly to the Ministry of Health for onward distribution to the nursing trainees.
“This Thursday, the Controller is transferring GH¢177 million to the Ministry of Health to pay the nursing training allowances. So I have also alerted Dr. Okoe-Boye to be on standby when the money hits the Ministry of Health account, they should move it quickly to the accounts of the nursing trainees so that they will have their allowances. It will be expedited.”
