• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, March 22, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Ghana on the path to full economic recovery – Nana Akufo-Addo

September 14, 2021
Stephen M.CbyStephen M.C
in Economy
0
Ghana’s Agriculture Mechanization Gets $29 million Boost- Akufo-Addo

His Excellency Nana Addo Dankwa Akufo-Addo

His Excellency, Nana Addo Dankwa Akufo-Addo, has disclosed that the Ghanaian economy is on the trajectory to full recovery.

Making his opening remarks at the two-day annual presidential business summit in Accra, President Akufo-Addo revealed that the Ghanaian economy has recently experienced some acute growth in its foreign direct investments.

Also, he noted that favourable terms of foreign exchange, inflation, among others have had a positive impact on the growth of the economy.

RelatedPosts

Fitch Upgrades Ghana’s Long-Term Local-Currency IDR From ‘RD’ To ‘CCC’

11th African Fiscal Forum: Reducing Fiscal Deficits Is Crucial To Debt Sustainability And Macroeconomic Stability- IMF, ECIP

African Countries Facing a Brutal Financing Squeeze– IMF Director, African Department

“Low inflation rate, stable currency, strong reserve position in FDI flows are clear indications of our collective desire to restore the Ghanaian economy onto a path of sustained stability and growth.

Nana Addo Dankwa Akufo-Addo

These economic assessments with its associated predictions by His Excellency, comes on the back of the country’s FDI position as disclosed by the Ghana Investment Promotion Centre (GIPC) and statistical macroeconomic findings from the Ghana Statistical Services (GSS).

The President speaking at the summit further opined that his “administration will continue to deepen engagement with the private sector to ensure the local economy remains stronger”.

The Chief Executive Officer of the GIPC, Mr. Yofi Grant, explained that the Ghanaian economy last year witnessed a stunning performance with total FDI inflows amounting to some US$2.6 billion.

With high expectations on a possible influx of investments, 279 investor funded-projects were registered with GIPC within the year.

These projects which comprise of “129 newly registered projects, 131 upstream developments and 19 free zones activities, have been distributed across eight (8) administrative regions in Ghana”.

Additionally, in the first half of 2021, a total of 122 projects (94 new projects and 28 upstream existing projects) worth US$829 million have been brought in through foreign direct investments, GIPC disclosed.

Ghana’s economic turnaround

According to Mr. Grant, the United Kingdom, the Peoples Republic of China, Australia, Netherlands, and South Africa have distinguished themselves as major sources of inward investment to the Ghanaian economy

Furthermore, Mr. Grant has made predictions of the possibility of the Ghanaian economy receiving about US$3 billion worth of FDIs by the end of December 2021.

Also, considering the Ghanaian economy’s level of inflation, Professor Samuel Kobina Annim, the Government Statistician quite recently announced that “the Year-on-year inflation rate for August stood at 9.7 per cent compared to 9.0 per cent in July”.

Additionally, the “month-on month inflation between July 2021 and August 2021 was 0.3 per cent”.

Prof. Annim, while speaking at a press briefing disclosed that “alcoholic beverages were the dominant drivers for the higher rate of inflation in August 2021”.

Food contributed more than half the overall level of inflation. When combined with housing, they form more than two-thirds, further including transport forms more than four-fifths of total inflation.

In the meantime, the country’s foreign exchange position has remained relatively stable over time. Data from the Bank of Ghana revealed the cedis’ position against some major trading currencies.

The cedi for instance experienced some levels of appreciation against the dollar within the first quarter of 2021 but has been witnessing some depreciation recently.

READ ALSO: Pension funds market dips – Ghana Stock Exchange

Tags: economyGhana Investment Promotion Centre (GIPC)Ghana Statistical ServiceNana Addo Dankwa Akufo-Addo

Related Posts

Fitch Upgrades Ghana’s Long-Term Local-Currency IDR From ‘RD’ To ‘CCC’
Economy

Fitch Upgrades Ghana’s Long-Term Local-Currency IDR From ‘RD’ To ‘CCC’

March 22, 2023
11th African Fiscal Forum: Reducing Fiscal Deficits Is Crucial To Debt Sustainability And  Macroeconomic Stability- IMF, ECIP
Economics

11th African Fiscal Forum: Reducing Fiscal Deficits Is Crucial To Debt Sustainability And Macroeconomic Stability- IMF, ECIP

March 21, 2023
African Countries Facing a Brutal Financing Squeeze– IMF Director, African Department
Economy

African Countries Facing a Brutal Financing Squeeze– IMF Director, African Department

March 21, 2023
GSE Vital to Ghana’s Economic Development- Deputy MD
Economy

DDEP: We Cannot Continue To Invest In Government Bonds- Abena Amoah

March 21, 2023
GCB Capital Urges Investors To Secure Funds And Limit Risk With Commodity Backed ETFs
Economy

GCB Capital Urges Investors To Secure Funds, Limit Risk With Commodity Backed ETFs

March 21, 2023
Kelhofer Criticizes Current And Past Governments In Ghana For Lack of Investments In Industrialization
Economics

Kelhofer Criticizes Current And Past Governments In Ghana For Lack of Investments In Industrialization

March 20, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

We are well positioned to engage US investors- GIPC

Next Post

Ghana’s progress shouldn’t be measured with constitution- Ayikoi Otoo

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Government’s Proposed Growth and Sustainability Levy Could Trigger Litigation- GUPC Cautions
Uncategorized

Government’s Proposed Growth and Sustainability Levy Could Trigger Litigation- GUPC Cautions

by Priscilla Dziedzorm FiakpornuMarch 22, 2023
Fitch Upgrades Ghana’s Long-Term Local-Currency IDR From ‘RD’ To ‘CCC’
Economy

Fitch Upgrades Ghana’s Long-Term Local-Currency IDR From ‘RD’ To ‘CCC’

by Gifty BansahMarch 22, 2023
B5 Plus Company Coughs Up GHC20 Million To Settle ECG
General News

B5 Plus Company Coughs Up GHC20 Million To Settle ECG

by Angeller AshongMarch 22, 2023
G-7 Put on Proposed Plan to Revise Russian Oil Price Cap this Week
Extractives/Energy

G-7 Put on Hold Proposed Plan to Revise Russian Oil Price Cap this Week

by Stephen M.CMarch 22, 2023
Pension Reform Is A Necessity For The Country- President Macron
Europe

Pension Reform Is A Necessity For The Country- President Macron

by Comfort AmpomaaMarch 22, 2023
Remove Appointment Of NPP Affiliate As EC Comm’r– Asa Asante To Akufo Addo
General News

Remove Appointment Of NPP Affiliate As EC Comm’r– Asa Asante To Akufo Addo

by Sam SamMarch 22, 2023
Government’s Proposed Growth and Sustainability Levy Could Trigger Litigation- GUPC Cautions
Fitch Upgrades Ghana’s Long-Term Local-Currency IDR From ‘RD’ To ‘CCC’
B5 Plus Company Coughs Up GHC20 Million To Settle ECG
G-7 Put on Proposed Plan to Revise Russian Oil Price Cap this Week
Pension Reform Is A Necessity For The Country- President Macron
Remove Appointment Of NPP Affiliate As EC Comm’r– Asa Asante To Akufo Addo
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In