I’ll strive for economic gains that benefit your pockets – Ofori-Atta
During the presentation of the Mid-year Budget Review to Parliament on July 31, 2023, Finance Minister Ken Ofori-Atta acknowledged the positive impact of fiscal adjustment policies on Ghana’s economy, leading to improvements in key indicators such as the exchange rate, inflation, and interest rates.
However, he admitted that there is still more work to be done to ensure that goods and services become more affordable for Ghanaians.
As a family man himself, the Minister empathized with the economic challenges faced by households and businesses. He emphasized that ongoing fiscal adjustments and investments in the population have contributed significantly to economic stabilization, leading to a stabilized exchange rate, softened inflation, reduced interest rates, and increased private investments due to enhanced investor confidence in the country’s economy.
Despite these positive trends, the Minister acknowledged that the expected easing of financial burdens has not been fully realized. He assured the Parliament that he would persist in building and maintaining a favorable macroeconomic environment to ensure that the prices of goods and services reflect the positive economic trajectory, benefiting families and businesses alike.
On the other hand, opposition National Democratic Congress (NDC) Members of Parliament (MPs) led by Cassiel Ato Forson disagreed with the Minister’s claims, pointing to indicators such as inflation and the exchange rate as evidence that the economy has not entirely recovered as asserted.
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