GHANA'S ECONOMY (GDP) UNDER VARIOUS REGIMES IN THE 4TH REPUBLIC

All the governments in the Fourth Republic have contributed their quota towards the development of Ghana's economy. Even though some have performed better than others, in times like these where Political Parties are campaigning to capture power, the economy becomes a focal point to outnumber their opponents, some using various propaganda machinery. It is indisputable fact that the 2024 general elections would no be an exception, and the results would be partially based on the performance of government's economy. There is therefore the need to compare and report on various governments performances since the beginning of the Fourth Republic as far as the economy is concerned.

Ghana International News has been able to gather the data below to help Ghanaian voter make an informed decision based on the economy before voting on the Saturday, December 7th.

GDP UNDER VARIOUS REGIMES IN THE 4TH REPUBLIC

1. Yr. 1992 - $ 16.31 billion (4th Republic Began with Rawlings)

2. Yr. 2000 - $ 11.47 billion (Rawlings)

3. Yr. 2008 - $ 38.66 billion (Kuffour)

4. Yr. 2012 - $ 56.85 billion (Atta Mills)

5. Yr. 2016 - $ 56.14 billion (Mahama)

6. Yr. 2023 - $ 76.40 billion (Nana Addo)

PERFORMANCE REVIEW

- Rawlings dropped it by $4.84 billion

- Kuffour increase it by $27.19 billion

- Atta Mills increased it by $18.19 billion (Commercial Oil Production started)

- Mahama dropped it by $710 million

- Nana Addo has increased it by $20.26 billion so far.

Commercial Oil Production started in Q4, 2010, which automatically increased our GDP then. The GDP is currently $75.31 billion, and experts believe we are likely to replicate 2023's size at the end of 2024.

GHANA'S DEBT STOCK BREAKDOWN

Ghana's current debt stock is $51Billion, find below the breakdown;

1. From 1957 to Rawlings $7.1billion

2. Kufour $1billion (because of HIPC & Grants)

3. Mills & Mahama $21.15 billion

4. Akuffo Addo $21.88 billion

After the debt exchange program, Nana Addo's added debt will be reduced further by $2.7 Billion making it $19.1 billion and Ghana's total debt to be $49 Billion.

Sources:

• Bank of Ghana

• Ministry of Finance and Economic Planning

• International Monetary Fund

• Borld Bank

• Statistical Service

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