The Minister of Finance, Ken Ofori-Atta says government is on the right footing in recovering the Ghanaian economy from the impacts of Covid-19 and the Russia-Ukraine conflict. 

He said the measures put in place by the government to address these negative impacts are beginning to yield the needed results. 

According to him, the measures have resulted in stabilising fluctuating exchange rates, softening inflation, and bringing down interest rates.

Mr Ofori-Atta delivering the 2023 Mid-Year Budget Review in Parliament on Monday, July 31, attributed the achievements to ongoing fiscal adjustments implemented by the government. 

“Mr Speaker, the implementation of ongoing fiscal adjustments and sustained investments in our people have contributed immensely to the stabilisation we are seeing in the economy.

"The exchange rate has stabilised, inflation has softened, and interest rates have declined since December 2022, and private investments have been announced due to increased investor confidence in our economy.”

He also said the government committed to working to sustain the improvement in the economy to ensure that prices of goods and services are within the budget of citizens.

“Ordinarily, Mr Speaker, these positive trends should ease the burden on our pockets. As a Finance Minister and a family man myself, I will continue to work hard to build and sustain a favourable macroeconomic environment, and remain confident that the prices of goods and services would reflect the trend for all of us – for our families and enterprises.”

Mr. Ofori-Atta further hailed the government’s Domestic Debt Exchange programme which he said provided “the government with increased fiscal flexibility and addressed cash and other liquidity constraints. Once again, we are grateful to all investors who participated in this exchange.”

He thus urged the citizenry to support the government in its quest to protect and restore the economy.