Dr Mohammed Amin Adam, says the half year economic growth of 5.8%, the highest in the past five years, was underpinned by the strong entrepreneurial resilience of the Small and Medium Enterprises (SME) sector and the economic reforms being undertaken by government. "I want to emphasize that SMEs are the backbone of our economy, contributing 70 percent to our GDP and constituting 92 percent of businesses".
As the GSS data proves, their entrepreneurial resilience is the driving force behind the remarkable recovery of economic growth.
Dr Amin Adam said these at the 2nd Quarterly Economic Roundtable (QER) at the University of Ghana under the theme, "Driving Economic Growth Through Small and Medium Enterprises (SMES)". SMEs behind Strong Half-Year Economic Growth - Dr Amin Adam He noted further that the economy was back on track, an indication that government policies to support the private sector are yielding positive results. "However, we know that future stellar growth is not guaranteed.
To manifest our growth prospects, we need to mitigate key risks.