Finance Minister Ken Ofori-Atta has expressed optimism, asserting that the nation is gradually overcoming the economic challenges it has faced.
He emphasised that the government has established a robust foundation for the future prosperity of the Ghanaian economy.
During the presentation of the 2024 Budget statement and economic policy in Parliament on Wednesday, November 15, Mr Ofori-Atta pointed to the consistent decline in inflation and the stability of the Ghanaian Cedi as evidence supporting his assertion.
“Mr. Speaker, I want to stress at this juncture that GHANA HAS PAID ITS DUES, HAS TURNED THE CORNER, AND GETTING BACK ON TRACK. Despite these successes, we have to do more to reinforce our stability and guarantee decent jobs with good pay for the young people.”
“As such, through the 2024 Budget, we will deliver even more investment across the real sector to place our economy on a firm growth trajectory that will create more jobs, safeguard our climate prospects and deeply entrench Ghana as the seed country for Africa’s development renaissance.”
The Minister further stated that the Akufo-Addo administration remains committed to investing in ongoing projects to ensure that Ghanaians continue to reap the benefits.
“Mr. Speaker, we will continue to invest in ongoing projects, and on the external front, we will conclude negotiations with the Official Creditor Committee to ensure that work on eligible externally funded projects resumes.”
The year-on-year inflation for October 2023 fell to 35.2% from the 38.1% recorded in September 2023.
Food inflation in the period was 44.8%, while non-food inflation was 27.7%
In addition, inflation for locally produced items was 34.4% while imported items stood at 34.4% from 37.4% last month.