As part of its attempts to address the economic problems Ghanaians are experiencing, the government will launch a new domestic program to support the Ghana Cares program, according to Finance Minister Ken Ofori-Atta.
A vehicle for concentrating private sector investment into economically productive areas is provided by the GhanaCARES “Obaatanpa” program.
The Finance Minister detailed the difficulties facing Ghanaians as a result of the impact of the conflict between Russia and Ukraine as well as Covid when presenting the mid-year budget review in Parliament on Monday, July 25.
“Towards 2022 Russia invaded Ukraine, a situation that worsened the already weakened global supply chain exacerbated by high conditions.
“These have had a debilitating toll on the cost and standard of living of our people. Mr Speaker, food prices are rising, fuel and transport fares are up, the cost of borrowing for businesses and for households has increased, the cedi has depreciated and the economic outlook has dipped significantly.”
He further admitted that these are difficult times for the government.
“The state of affairs is quite a painful one for me to report to you, it is hard to see our people lament about the prices of basic commodities, these are difficult times for government and indeed, for the Finance Minister.”
Source: Mybrytnewroom.com/Joseph Asare
