President John Dramani Mahama has applauded the Minister of Finance, Dr Cassiel Ato Forson, and the Governor of the Bank of Ghana (BoG), Dr Johnson Asiama for steering Ghana toward economic recovery.
According to President Mahama, he is sure by the time the Honorable Minister comes back to Parliament to present his mid-year review budget in August they will have more good news for Ghanaians.
Speaking during a durbar of chiefs and people at the Wa Jubilee Park as part of his thank-you tour in the Upper West Region on Thursday, May 15. John Mahama stated, ““I wish to commend the Honorable Minister of Finance and the Governor of the Bank of Ghana along with their teams for the close collaboration and coordination they are displaying in this economic turnaround”.
“I am sure that by the time the Honorable Minister comes back to Parliament to present his mid-year review budget in August, we will have even more good news for Ghanaians,” he added.
John Mahama further highlighted that the early signs of economic recovery under his administration are already being felt.
He added, “Since taking over the reins of government, our focus has been on stabilising the economy. We therefore presented to Parliament in March this year a budget which was aimed at severely trimming expenditure and channelling saved revenue into priority programmes as promised in our manifesto.”
“I am happy to report to you that our efforts to stabilise the economy have begun to yield results and it is evident in the improved performance of our local currency and also a gradual reduction of prices of goods and services in the market,” Mahama added.
Meanwhile, the Ghana Union of Traders Association (GUTA) and the Association of Ghana Industries (AGI) have revealed they have set a 60-day window for prices to be cut in relation to the appreciation of the Ghana cedis.
On Wednesday, May 14, the Minister for Trade and Industry, Elizabeth Ofosu-Adjare met the Trade Unions about the growing calls for the cedi appreciation to meet market prices.
According to GUTA and AGI prices on the market remain the same due to the older stock acquired at previous, higher rates still on the market.
