Accra - The Ghanaian government is projecting the value of the country's economy to surpass GHS1trillion in 2024. Mr. Ken Ofori-Atta, the Finance Minister, announced this during the presentation of the 2024 budget to Parliament on Wednesday, November 16. The government is committed to safeguarding the foundation for sustained economic expansion, achieved through the efforts of the Ghanaian people.

According to Ghana News Agency, The Minister stated that this significant economic growth would be facilitated by creating a conducive environment for private sector growth, including reliable energy supply, stable currency, lower inflation and interest rates, access to private sector credit, infrastructure provision, food security, and national security. The government plans to strengthen inter-continental market linkages and deepen partnerships under the 'Ghana Mutual Prosperity Dialogue' to enhance the country's competitiveness.

To support this growth, the government has announced eight tax reliefs in the 2024 budget and will implement a five-year Growth Strategy to attract private sector investments in key sectors. Specific interventions include phase two of the Planting for Food and Jobs (PFJ) initiative and improvements in storage facilities and infrastructure under the Millennium Development Authority (MiDA) to enhance food security and price stability.

The Minister also highlighted efforts to increase Non-Traditional Exports earnings and regulatory reforms to establish a predictable business environment. These measures, along with attracting Foreign Direct Investments (FDIs), are part of the government's strategy to foster economic growth and stability.