Economy

In the years preceding the pandemic, Ghana recorded robust GDP growth, which jumped from 2.1% in 2015 to a high of 8.1% in 2017 at constant 2013 prices. Responsibility for the economy ultimately belongs to the government, and the country’s economic health in the coming years depends greatly on its ability to implement further fiscal consolidation. While Ghana weathered the Covid-19 pandemic better than many of its regional and income-level peers, this did not come without a cost. For instance, labour earnings fell during 2020-21 as many businesses closed. However, recent developments, such as campaigns to secure more foreign direct investment, bode well for the longer-term economic growth of Ghana.

This chapter contains interviews with Yofi Grant, CEO, Ghana Investment Promotion Centre; Humphrey Ayim-Darke, President, Association of Ghana Industries; and Michael Oquaye Jr, CEO, Ghana Free Zones Authority.