Budget reading

The Finance Minister Ken Ofori-Atta has said that the Cedi has stabilized against the dollar since early 2023 with a year-to-date, cumulative depreciation of 25.7 percent compared to 54.1 percent over the same period in 2022. Specifically, he said, the Cedi has only depreciated by 6.4 percent on a cumulative basis since February 2023 compared to 53.9 percent over the same period in 2022. “The stability of the Cedi largely reflects the positive impact from the restoration of economic activity,” he told Parliament while presenting the 2024 budget statement on Wednesday, November 15. The Finance Minister further said that the Akufo-Addo administration was determined to maintain discipline in order to keep…

The Finance Minister Ken Ofori-Atta has told Parliament that the government has worked to restore Ghana's economy on the path of growth that will create more jobs. Mr Ofori-Atta 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 stabilised,” he said when he delivered the 2024 budget statement in the House…