After a crunch three-day Cabinet retreat hosted by President Akufo-Addo, Finance Minister Ken Ofori-Atta is anticipated to transmit significant measures and reliefs sanctioned by the government to restore the economy later this week.
According to a press statement released by the Information Ministry on Monday, the initiatives include ones that will alleviate the country’s current challenges.
Over the weekend, the government conducted a cabinet meeting in Peduase, Eastern Region, to identify answers to the country’s challenging economic difficulties, which include continual increases in the cost of goods and services, rising fuel prices, and the cedi’s continued depreciation.
Some of the reliefs will include the reopening of land borders, the relaxation of Covid-19 limits, and attempts to arrest the cedi’s depreciation.
“President Akufo-Addo approved a number of far-reaching measures aimed at mitigating the depreciation of the cedi, ensuring expenditure discipline and providing relief in the face of the global fuel price hikes and inflation as well as ensuring that priority programs meant to grow the economy are protected.
“Government appreciates the efforts of all who contributed to a successful retreat and looks forward to the support of all Ghanaians in implementing the agreed measures,” the statement added.
President Akufo-Addo, Finance Minister Ken Ofori-Atta, and other ministers will offer specifics on which sectors would see spending cuts in the coming days.
They are also expected to explain how the administration intends to deal with the present global economic issues.
Below is the Information Ministry’s statement:
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SOURCE: myjoyonline
