The Minister for Finance, Dr Cassiel Ato Forson, has revealed that Ghana’s economy experienced significant growth in 2024.
He made this announcement during the presentation of the 2025 Budget Statement in Parliament on Tuesday, 11th March, highlighting the expansion of the country’s economic output over the past year.
Dr Forson noted that despite global economic challenges, Ghana’s economy showed resilience, recording notable improvements across key sectors.
He attributed this growth to sound government policies aimed at stabilising the economy.
“The size of the economy improved significantly in 2024, reflecting the impact of measures put in place to drive productivity and investment,” he stated.
However, the Minister acknowledged that part of the recorded economic growth included proceeds from illegal small-scale mining, commonly known as ‘galamsey.’
He cautioned that while this may have contributed to GDP expansion, the environmental and social consequences of galamsey remain a concern.
“It is important to recognise that some of this growth is linked to galamsey activities, which pose significant risks to our natural resources,” he added.
Dr Forson reassured Parliament that the government remains committed to fostering sustainable economic growth.
He emphasised that future policies will focus on strengthening productive sectors, formalising informal economic activities, and ensuring that economic gains do not come at the expense of environmental sustainability.