Home Business Ghana’s Economy in ‘Bad Shape’ – President Akufo-Addo

Ghana’s Economy in ‘Bad Shape’ – President Akufo-Addo


Ghana’s president Nana Akufo-Addo is faced with the task of handling a 1.6 billion dollars hole in the budget and a deficit twice as high as expected, after he promised to revive the country’s economic growth.

In 2014 Ghana’s economy was among the most dynamic in Africa before being affected by a slump in global prices.

Ghana’s GDP growth in 2016 was estimated at 3.6 percent considered as the lowest in 23 years. The president has recognised that the deal is still to meet its objectives.

President Akufo-Addo took office last month on pledges to spend the equivalent of $1 million a year on development in each of Ghana’s 275 parliamentary constituencies, build a dam in every village to ensure reliable water supply and bring a factory to every district.

But the reality on the ground is making things tough.


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