At A High-level Meeting In Washington, Investors Praised Ghana’s Economic Growth..

A high-level investor meeting chaired by Finance Minister Cassiel Ato Forson (MP) in Washington, D.C., significantly improved Ghana’s economic prospects.

Ghana’s economic stabilization efforts have been well received by investors.

This followed a thorough presentation by the finance minister, who explained that international reserves are robust and can currently cover four months’ worth of imports, while the cedi has remained comparatively stable with indications of appreciation.

The government’s dedication to reestablishing macroeconomic stability was demonstrated by these metrics.

The performance of domestic revenue has been good, according to Dr. Forson. Thanks to impressive results in VAT and other important tax categories, the Ghana Revenue Authority officials surpassed their first-quarter goal by more than 2.4 billion cedis.

Additionally, expenditure is being closely controlled. In an effort to preserve fiscal restraint while continuing to provide necessary services, the government has maintained allocations for goods and services at 2023 levels.

Ghana is on track to have a primary surplus of 1.5% this year thanks to increased revenue and better spending management.

Investors were further reassured by the Bank of Ghana’s substantial reserves, which enable it to make coupon payments on time. This action boosts market confidence and promotes financial stability.

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Additionally, Dr. Forson declared that the government will introduce a thorough debt management plan at the next Mid-Year Budget Review.

It is anticipated that the plan will include important actions for managing public debt, preserving investor confidence, and sustaining growth.

The meeting reinforced growing confidence among the investor community in Ghana’s economic direction and the government’s commitment to disciplined, transparent financial management.