Yet we know that our public spending is now not particularly low by the standards of other countries – and health, education, and welfare spending (as a share of GDP) is higher today than it was 15 years ago.
[10] The Ghanaian economy was severely challenged in the first half of 2009 with rising inflation, a depreciating currency, loss of international reserves and weakening business and consumer confidence. The rate of inflation increased steadily and peaked at 20.7 percent in June, the highest on record in over four years.