Prior to Covid, Ghana’s economy was probably one of the fastest growing in the world – Yofi Grant

“As we speak right now, I am still trying to find any major country that has been able to battle inflation. It’s not just inflation but about growth. Our economy has been growing despite the fact that inflation is at that level. Our economy is very different from those economies.

Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr Yofi Grant has expressed optimism that the economy would rebound stronger.

He indicated that prior to Covid, Ghana’s economy was probably one of the fastest growing in the world.

Even in the Covid times when many economies were riling, he said, the Ghanaian economy grew by 0.5%.

It was still positive, he told the BBC

“As we speak right now, I am still trying to find any major country that has been able to battle inflation. It’s not just inflation but about growth. Our economy has been growing despite the fact that inflation is at that level. Our economy is very different from those economies.

“We’re seeing larger economies also riling now; like Nigeria. We’ve seen the US economy has inflation at a 40-year high; we’ve seen the UK economy [with] same problem, the same with Canada.

“So, it’s not one that you isolate and say because of inflation, then it means everything else is crumbling,” he observed.

He added “Let me point out a few things to you; prior to Covid, our economy was probably one of the fastest growing in the world. Even in the Covid times when many economies were riling, the Ghanaian economy grew by 0.5%, it was still positive.

“I saw an article written by an economist which says that ‘isn’t President Akufo-Addo or Ghana going back on its word on Ghana Beyond Aid?’ Absolutely no!

“We are not going for aid, free money. We are all members of the IMF so we put money there. It’s like a lender of last resort,” he added.

Source: 3news.com|Ghana

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