The overriding aim of the Government's economic development program is the reduction of poverty and general improvement in the welfare of Ghanaians. The strategy for poverty reduction emphasizes economic growth, integrated rural development, the expansion of employment opportunities, and improved access by the poor to basic public services. The overall trend in poverty during the 1990s has been broadly favorable in Ghana. The decline, however, is not evenly distributed geographically, the reduction in poverty being concentrated in Accra and the Rural Forest localities.
Poverty is highest among food crop farmers, who also gained the least.
Over the past five years, the economy grew on average by 4.4 percent a year. However, recent declines in the world prices of cocoa and gold coupled with higher prices for oil, slowed the country's progress to achieve its macroeconomic and fiscal targets. The economic outlook for 2000-2002 is challenging and calls for even tighter measures. The Government is committed to reducing its stock of domestic debt in order to bring down interest payments and rates and free up credit for the private sector. The Government also hopes to accelerate privatization of banks and public utilities.