Finance Minister Ken Ofori-Atta has said the government is now focused on maintaining the growth that the economy is witnessing currently.
He said the government is determined to ensure the stability of the local currency and disinflation over the medium term.
“Our task now is to maintain stability and keep on growing. we are determined to remain on a course of increased growth, currency stability and disinflation over the medium term.
“I am confident that this victory budget will ensure that we boldly walk on a sustainable path toward creating decent jobs and wealth for our people,” the Finance Minister said during the 2024 budget statement presentation on Wednesday, November 15.
He said the government had turned the corner relative to the economic challenges when it successfully completed the first review of the 3-year 3 billion International Monetary Fund External Credit Facility ( IMF -ECF) programme.
“We turned the corner when we completed the IMF first review,” he told Parliament while presenting the 2024 budget statement on Wednesday, November 15.
He further assured that the government is poised to “maintain stability and keep growing. and ensure increased growth, currency stability”
“We turned the corner when inflation started declining from 54 1 in December to 35.2 in October 2023, he added.
“The recovery is indeed real and is here to stay,” he further assured.
Mr Ofori-Atta further 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.