Ministry of Finance Press Statement on Economy 24-03-2022 by Ken Ofori-Atta, Hon Minister of Finance.

25-03-2022

Ministry of Finance Press Statement on Economy 24-03-2022 by Ken Ofori-Atta, Hon Minister of Finance.

Good afternoon, Ladies and Gentlemen of the Press and fellow citizens. Thank you for availing yourselves.

I am here today to announce to you measures to address the economic difficulties we are facing due mainly to recent global and domestic events. These difficulties have manifested in:

  • i.  rising fuel prices;
  • ii. rising inflation and cost of living;
  • iii. exchange rate depreciation;
  • iv. rising interest rates; and
  • v. revenue mobilization challenges.

Cabinet had its first regular quarterly retreat for 2022 from 18th to 20th March at Peduase, concluding in Accra on Monday, 21st March. During the retreat, Cabinet deliberated extensively on a number of issues and approved a number of measures to support current efforts to address the challenges we are facing.

Also on Monday, March 21st 2022, the Bank of Ghana announced a number of complementary, monetary measures to address the rising cost of goods and services on the market and the worrying performance of the cedi against major currencies such as the Pound Sterling, Euro and Dollar.

Please continue to read the full statement HERE .

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