The Finance Minister, Ken Ofori-Atta, has said 2022 was the most difficult year for him since his appointment in 2017.
Ghana’s economy was in turbulence last year forcing the major gold and cocoa exporter to resort to the International Monetary Fund (IMF) for $3 billion relief support.
Presenting the 2023 Mid-Year Budget Review in Parliament on Monday (31 July), Ofori-Atta said the economy is gradually bouncing back due to prudent measures being implemented by the government.
“In 2022 we took what was then a difficult but necessary decision to request support from the International Monetary Fund (IMF) to implement our post-COVID-19 programme of economic growth,” he said.
Turning the corner
“The country was going through a dire period of economic uncertainties and despondency. We have turned the corner and more importantly we are determined to continue down the path.
“Soon, we expect the measures taken to result in economic activities than anything experienced in the history of the Fourth Republic,” he added.
“Our plans and programmes should soon lead to a sustained increase in domestic production including manufacturing and farming, replacing many of the products we are used to importing,” Ofori-Atta added.
Listen to Ken Ofori-Atta in the attached audio clip below:
Reporting by Fred Dzakpata in Accra
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