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ECONOMY OF GHANA

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PRESENTATION BY GROUP 16 ON THE TOPIC; “the performance of the Ghanaian economy before and after the implementation of the World Bank/IMF sponsored Structural Adjustment and Economic Recovery Programme in April 1983 .”. ECONOMY OF GHANA. ECONOMY OF GHANA GROUP 16. NAME INDEX NO.

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PRESENTATION BY GROUP 16 ON THE TOPIC; “the performance of the Ghanaian economy before and after the implementation of the World Bank/IMF sponsored Structural Adjustment and Economic Recovery Programme in April 1983.”

ECONOMY OF GHANA

economy of ghana group 16
ECONOMY OF GHANAGROUP 16

NAMEINDEX NO.

Danso Olivia Kumi 12BAR107

Essandoh Gifty12BAR115

Ameyaw Stephen 12BAR133

Awuku Angel Theodora 12BAR119

Adom- Adade Gifty 12BAR109

Bedi Godson Yaw 12BAR117

Nartey Felix Tetteh 12BAR135

Offei Awuku Eugene 12BAR122

Benjamin Acheampong12BAR116

LECTURER: DR. RAYMOND DZIWORNU

objectives of presentation

OBJECTIVES OF PRESENTATION

What is SAP and ERP?

Why SAP and ERP?

Performance before SAP/ERP.

Performance after SAP/ERP.

Has SAP and ERP achieve its goals?

the economy brief account
THE ECONOMY(BRIEF ACCOUNT)

During the 1950-60, GDP grew annually by 4.1 % and agricultural output by 4.3 %. High growth in the output of the major export crop, cocoa, provided the basis for rising investment via increased foreign exchange availability. With export earnings rising at 3.2 % per annum during the nineteen-fifties, both imports and gross domestic investment grew at 8.9 % per annum during the decade. Industrial output also rose at 6.7% per annum.

what is erp and sap
What is ERP and SAP?
  • Economic Recovery Programme (ERP)-1983/86
  • Structural Adjustment Programme­­ (SAP)-1986/90

To reverse the deterioration in the economy since 1970, and resume, sustain and accelerate growth, Ghana launched the ERP and­­ SAP.

Were supported by the World Bank Group and various facilities of the IMF including the enhanced structural adjustment facility (ESAF) and other concessional assistance.

why the erp and sap
Why the ERP and SAP?

The ERP and SAP was implemented because of the following:

  • Persistent high inflation.
  • Decline in production and export.
  • A decline in per capita income increased poverty.
  • A worsening of income distribution.
  • Growing unemployment.
  • Flourishing illegal activities.
  • Emigration of skilled professionals.
  • Political instability.
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BODY

Performance of the Economy before and after ERP and SAP

conclusion
CONCLUSION

Using this analysis, the ERP/SAP appears less successful.

The real GDP growth rate fell slightly below target, whilst inflation, domestic savings, gross fixed capital formation, broad money growth and the balance of payments, trade account, all missed their targets by a significant margin.

Only government budget deficit and the balance of payments current account and overall balance did actual outcomes surpass the target.

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