
In his presentation of the 2024 budget statement in Parliament, Finance Minister Ken Ofori-Atta stated that Ghana’s economy, which faced challenges in recent years, has started making modest gains.
According to the minister, the country’s inflation has begun to decline, signaling improved economic performance.
Ghana sought assistance from the International Monetary Fund (IMF) in response to economic difficulties.
While some experts attributed the challenges to poor economic management, the government consistently argued that external factors, such as the impact of Covid-19 and the Russia-Ukraine war, played a significant role.
Minister Ofori-Atta highlighted a turning point in the economy, citing a decline in inflation from 54.1 percent in December 2022 to 35.2 percent in October 2023.
He also noted a strengthening of the currency, which had been under considerable pressure for the past two years.
The Finance Minister attributed these positive developments to effective economic policies and strategies implemented by the government.
Additionally, he emphasized that various social interventions introduced by the government have contributed to improving the quality of life for Ghanaians.