- Finance Minister Kenneth Ofori-Atta has confirmed government’s initiatives to improve the purchasing power of Ghanaians
- It said that inflation has come down from 54 percent to 23.2 percent and the prices of rice and maize, among others, have stabilized
- The Minister of Finance has disclosed that the government has set an inflation target of 15 percent by the end of 2024 to ease the hardships on Ghanaians
Finance Minister Kenneth Nana Yaw Ofori-Atta has reiterated that the government has taken steps to ease the hardships of Ghanaians due to the economic turmoil.
During an interview with Eddy Micah Jnr on News Africa, he said the government has successfully reduced inflation from 54 percent to 23.2 percent.
Source: Facebook
Money in the pockets of Ghanaians
When asked how Ghanaians could feel the reduction in inflation in their pockets, Kenneth Ofori-Atta confirmed the measures implemented to stabilize the prices of rice and maize to help reduce the high cost of living for Ghanaians.
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He emphasized that although International Monetary Fund (IMF) predicted economic growth of 1.5 percent, they achieved more.
“… We reached a low inflation of 54 percent at the end of 2022 and the currency fell to 50 percent during this period… The International Monetary Fund (IMF) predicted growth of 1.5 percent and we managed to see an increase of almost 3.2 percent…
βThe beauty of what we have is that we are all witnesses to the work we are doing to reduce inflation. Going from 54 percent to 23. 2…” he he said.
He added that measures such as adding value to the country’s products to stop importation and stabilization of the cedi would help alleviate the harsh living conditions of Ghanaians.
inflation of 15 percent
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The finance minister said the government has targeted 15% inflation by the end of 2024 to help achieve that goal.
“Our target is by the end of the year, inflation will be 15 percent,” Ken Ofori-Atta said.
Watch the interview below:
Atta Akyea urges Ken Ofori-Atta to resign as finance minister
In a previous story, YEN.com.gh reported that the Akim Abuakwa South MP, Samuel Atta Akyea, has urged the Minister of Finance, Ken Ofori-Atta, to consider resigning from his office.
Atta Akyea prompted some self-reflection from the embattled finance minister, who has had to deal with a financial crisis in the past year.
During his comment on the matter in an interview with Citi News, the lawmaker also suggested that the resignation may be in the interest of Ofori-Atta. Atta Akyea also believes that a possible Ofori-Atta tie-up will defuse political tensions.
Source: YEN.com.gh