Midyear Budget Review: Interest rates have declined since December 2022 – Ken Ofori-Atta
According to Ken Ofori-Atta, Minister of Finance, the government is on the correct track to restore the Ghanaian economy and recover from the effects of Covid-19 and the Russia-Ukraine war.
He claimed that the government’s initiatives to alleviate these detrimental effects are starting to have the desired impact.
He claims that the actions have stabilized volatile exchange rates, moderated inflation, and lowered interest rates.
“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.”
“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.” He said.
