Following a period of extreme economic hardship in 2022, the country’s economy has made positive strides, according to Finance Minister Ken Ofori-Atta.
On July 31, Mr. Ofori-Atta discussed the 2023 mid-year budget review in Parliament and emphasized the achievements of the government’s programs and initiatives.
“In the face of various challenges, we are witnessing modest gains in turning our economy around,” stated Mr Ofori-Atta.
“It is crucial that we acknowledge and appreciate the major milestones achieved in the past three years. Despite the difficulties, Ghana has managed to maintain peace, health, security, and a continuous supply of power, among other essential aspects of life.”
The finance minister stated his confidence that the measures put in place will lead to a large increase in economic activity that will outperform all prior successes in Ghana’s Fourth Republic history.
“Our plans and programs are geared towards a sustained increase in domestic production, including manufacturing and farming, which will replace many of the products we currently import,” he added.
Acknowledging the nation’s resilience during challenging times, Mr. Ofori-Atta extended his gratitude to the people of Ghana.
“The President and his government are thankful for the patience, understanding, and positive contributions of the good people of Ghana in our efforts to weather the storm,” he said.
The Finance Minister emphasized that significant progress has been made in restoring macroeconomic stability, leading to positive changes in the economic narrative.
“The economy is showing signs of recovery. The exchange rate has stabilized, inflation has softened, and interest rates have declined since December 2022,” he shared.
Source: Mybrytfmonline.com/Joseph Asare
