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

NOTE: The information regarding Ghana on this page is re-published from The Library of Congress Country Studies and the CIA World Factbook. No claims are made regarding the accuracy of Ghana ROLE OF THE GOVERNMENT information contained here. All suggestions for corrections of any errors about Ghana ROLE OF THE GOVERNMENT should be addressed to the Library of Congress and the CIA.