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Ghana
ROLE OF THE GOVERNMENT
Ghana
ROLE OF THE GOVERNMENT
Craftsmen making cane furniture in Accra
Courtesy James Sanders
In the 1990s, the government continued to play a decisive role
in the direction and pace of economic development in Ghana. Under
the Economic Recovery Program initiated in 1983, the Rawlings
government tried to shift the burden of economic growth from
government to the private sector through a dual strategy of cutting
government spending and promoting private production. In
particular, the government tried to boost export production through
currency devaluations, tax incentives, and government-funded
development projects. At the same time, budget deficits were almost
entirely wiped out. These measures caused drastic cutbacks in
recurrent government spending coupled with widespread
privatization, while the government incurred further loans (and
thereby debt) to balance the country's budget.
Data as of November 1994
