2022 Budget Highlights
At the beginning of 2021, Ghana, like many other countries started to chart a path to economic recovery with the hope of restoring macro-economic stability to Pre-Covid-19 levels. Despite the ambition and aspiration of government, the country experienced a third wave of the pandemic, which again disrupted economic activities and affected households and individuals. This called for a further prioritisation of the health, safety and well being of the citizenry, which subsequently impacted government expenditure.
Although we are not out of the woods yet, it appears the economy is on a recovery trajectory, albeit at a slower pace but quite competitive in comparison to our peers in the sub-region. Macroeconomic growth rate at the end of June 2021 stands at 3.5% against a projected 5.1% growth rate full year 2021.
On 17 November 2021, the Minister for Finance, Hon. Ken Ofori-Atta presented the Budget Statement and Economic Policy (the budget) under the theme, “Building a Sustainable Entrepreneurial Nation: Fiscal Consolidation and Job Creation” to Parliament on behalf of the President, His Excellency Nana Addo-Dankwa Akufo-Addo.