Finance Minister, Dr. Mohammed Amin Adam has projected that Ghana’s inflation rate will reach 15% by the end of 2024.
He believes that the current government has achieved significant reductions in inflation rates since taking office in 2017.
Speaking at the Greater Accra regional town hall meetings and exhibitions on the government’s achievements in the financial sector on 6th August 2024, Dr. Amin Adam stated that the current government has put in place measures that have helped manage inflation despite economic challenges.
“Now when the Russia-Ukraine war happened we saw global inflation going up and ours was also negatively affected. In fact, inflation went up to about 54% in 2022. But again, see the effort we have put into managing inflation in Ghana.”
“In June this year which is 17-18 months, we have brought inflation down from 54% to 22%. In 17 months, we have more than halved inflation from 54% to 22% and we are determined to end this year with an inflation rate of 15%.”
Additionally, Dr. Mohammed Amin Adam promised Ghanaians that if the government wins the 2024 elections, it will reduce inflation to a single-digit rate come next year.
“God willing, inshallah, if this party continues in government next year, we are even further determined to bring inflation to a single-digit inflation next year.”
Story by: Alexander Kuuku Osei-Baidoo | univers.ug.edu.gh
