He said the country has turned the corner after it successfully implemented the first phase of the International Monetary Fund (IMF) bailout.
The Minister of Finance, Ken Ofori-Atta has said that the Ghanaian economy is currently on track to recover from its poor performance in the past few years.
Ken Ofori-Atta, Ghana's Finance Minister presenting the 2024 Budget in the Chamber of Parliament.
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While presenting the 2024 budget in Accra, Mr. Ofori-Atta said the government is currently maintaining the stability of the economy.
“We turned the corner when we completed the IMF first review,” he said.
He further assured that the government is poised to “maintain stability and keep growing. and ensure increased growth, currency stability”
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“We turned the corner when inflation started declining from 54 1 in December to 35.2 in October 2023, he added.
Finance Minister, Ken Ofori-Atta
Pulse Ghana
“The recovery is indeed real and is here to stay,” he further assured.
Mr Ofori-Atta further stated that the prompt deployment of strong fiscal and monetary policy measures since the last year as well as in the first half of 2023 largely accounts for the continued economic recovery that is being experienced.
“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 stabilized,” he said.
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The budget presentation is carried out by the Finance Minister on behalf of the President, Nana Addo Dankwa Akufo-Addo.
