- Finance Minister Kenneth Ofori-Atta has reaffirmed the government's initiatives to improve Ghanaians' purchasing power
- He stated that inflation has reduced from 54 per cent to 23.2 per cent, and rice and maise prices, among other things, have been stabilised
- The finance minister disclosed the government has targeted 15 per cent inflation by the end of 2024 to ease hardships on Ghanaians
Finance Minister Kenneth Nana Yaw Ofori-Atta has reiterated that the government has taken steps to reduce Ghanaians' hardships due to the economic turmoil.
During an interview with Eddy Micah Jnr on News Africa, he said the government had successfully reduced inflation from 54 per cent to 23.2 per cent.
Money in the pockets of Ghanaians
When asked how Ghanaians could feel the inflation reduction in their pockets, Kenneth Ofori-Atta reaffirmed the implemented measures to stabilise rice and maise prices to help lower Ghanaians' high cost of living.
He stressed that although the International Monetary Fund (IMF) predicted a 1.5 per cent economic growth, they achieved more.
''... We hit a low of 54 per cent inflation at the end of 2022, and the currency plummeted to 50 per cent during that period ... The International Monetary Fund (IMF) predicted a 1.5 per cent growth, and we've been able to chalk up almost a 3.2 per cent growth...
''The beauty of what we have is that we're all witnesses to the work we're doing to get inflation down. Moving from 54 per cent to 23. 2...'' he said.
He added that measures such as adding value to the country's produce to stop importation and stabilising the cedi would help alleviate the harsh living conditions of Ghanaians.
15 per cent inflation
The finance minister mentioned that the government has targeted 15 per cent inflation by the end of 2024 to help achieve this goal.
''Our target is that by the end of the year, inflation will be 15 per cent,'' Ken Ofori-Atta said.
Watch the interview below:
Atta Akyea urges Ken Ofori-Atta to resign as finance minister
Atta Akyea urged some self-reflection from the embattled finance minister, who has had to contend with an economic crisis over the past year.
During his comment on the issue in a Citi News interview, the legislator also suggested that resigning may be in Ofori-Atta's best interest. Atta Akyea also believes a possible Ofori-Atta association would calm political tensions.
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