Cabinet has approved further economic measures to sustain Ghana’s progress towards economic recovery. The decision was aimed at further consolidating the stability of growth and tightening of spending.
President Nana Addo Dankwa Akufo-Addo and his Cabinet on October 20, began a three-day retreat to deliberate on the country’s economy and the humanitarian crisis that has hit many parts of Lower Volta following the spillage of the Akosombo and the Kpong Dams.
The retreat comes on the back of the International Monetary Fund’s approval of the next tranche of $600 million balance of payment support for Ghana after reaching a staff agreement.
Addressing journalists after the three-day cabinet retreat in Peduase Lodge, the Information Minister, Kojo Oppong Nkrumah, stated that the Cabinet was pleased with the results of the PC-Peg implementation.
He highlighted the relative stability of the economy and its recovery, adding that efforts are being made to ensure that inflation drops from its current status of 38.1%.
Oppong Nkrumah further emphasized that fiscal consolidations, cedi stabilization, jobs creation, inflation, and international reserves have seen tremendous improvements.
Story by: Osei Akoto / Ahotoronline.com
