The Institute of Economic Research and Public Policy (IERPP), a policy think tank dedicated to social reform, sound economic management, and responsible governance, has disputed President John Dramani Mahama's claim of economic crisis.
IERPP states that the erstwhile Akufo-Addo administration rather averted economic crisis. "Ghana is not in an economic crisis as of 2024 but remains in a recovery phase," the IERPP said in a statement reacting to the State of the Nation address presented by President Mahama on Thursday, February 27.
The statement explained that by 2024, Ghana's economy showed clear signs of stabilization.
Explaining the signs of economic growth, IERPP said that Gross Domestic Product (GDP) growth had inched up to 3.2%, supported by a rebound in cocoa production (700,000 MT) and surging global cocoa prices ($10,000/ton).
