The Finance Minister, Ken Ofori-Atta, informed Parliament that the government has made significant efforts to revive Ghana’s economy and promote job creation.
Ofori-Atta emphasized that the implementation of robust fiscal and monetary policies since last year, as well as in the first half of 2023, has played a crucial role in the ongoing economic recovery.
During the presentation of the 2024 budget statement on Wednesday, November 15, Ofori-Atta highlighted the resilience of Ghana’s growth in 2023, which has surpassed expectations.
“So far, growth in 2023 has been more resilient than expected, inflation has declined in line with the fundamentals, the fiscal and external balances have improved, and the exchange rate has stabilised,” he said when he delivered the 2024 budget statement in the House on Wednesday, November 15.
Furthermore, Ofori-Atta expressed the Akufo-Addo administration’s commitment to maintaining discipline to ensure economic stability.
He emphasized the government’s success in completing the first review of the 3-year, $3 billion International Monetary Fund External Credit Facility (IMF-ECF) program as a turning point in overcoming economic challenges.
Ofori-Atta assured Parliament that the government is determined to sustain stability and foster continued growth while ensuring currency stability.
He highlighted the decline in inflation from 54.1% in December to 35.2% in October 2023 as evidence of progress. He concluded by affirming that the economic recovery is not temporary but rather a lasting reality for Ghana.
