The Minister of Finance Ken Ofori-Atta has said the stability of the local currency the cedi is a reflection that Ghana’s economic recovery is real.
The cedi remained stable in June 2023 and July 2023 against the US dollar, indicating the positive impact of the International Monetary Fund (IMF) programme on Ghana.
Presenting the 2024 Budget Statement in Parliament on Wednesday (15 November 2023), Ofori-Atta said “The performance of the cedi is also a reflection that confidence is back, revenues have improved and that the recovery is indeed real and here to stay.”
“In the mid-year review, I informed the House that we have started turning the corner. Today it is evident that we have turned the corner when inflation started declining from 54.1% in December 2022 to 35.2% in October 2023.”
“The Akufo-Addo government is determined to maintain the discipline, compassion and creativity required to keep the economy stable and maintain the robust growth,” Ofori-Atta added.