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In a compelling address to Parliament today, Finance Minister Ken Ofori-Atta affirmed the Ghanaian government’s proactive steps towards steering the nation’s economy onto a robust growth trajectory, propelling job creation opportunities in the process.
Highlighting the swift implementation of robust fiscal and monetary policies since last year and into the initial half of 2023, Ofori-Atta credited these measures as the primary drivers behind the ongoing and sustained economic resurgence.
“Throughout 2023, we’ve witnessed a more resilient growth trajectory, aligning with our projections. Inflation has mirrored fundamental improvements, showcasing a decline, while fiscal and external balances have showcased enhancements. Moreover, the exchange rate has achieved a commendable stability,” stated Ofori-Atta during his delivery of the 2024 budget statement in the House on Wednesday, November 15.
Asserting the Akufo-Addo administration’s unwavering commitment to upholding discipline to safeguard economic stability, the Finance Minister emphasized the pivotal moment marked by the successful completion of the first review of the 3-year 3 billion International Monetary Fund External Credit Facility (IMF-ECF) program.
“Our pivotal moment came with the IMF’s first review,” Ofori-Atta remarked while unveiling the 2024 budget statement, emphasizing the government’s determination to sustain stability and propel continuous growth while ensuring currency stability.
Furthermore, he assured the nation of the government’s dedication to nurturing sustained growth, promising to fortify currency stability and foster increased economic expansion.
“We crossed the threshold as inflation notably declined from 54.1 in December to 35.2 in October 2023,” he added.
In a resolute tone, Ofori-Atta reiterated, “The recovery is indeed tangible and is here to endure,” offering a promising outlook for Ghana’s economic future.
