Ken Ofori-Atta to communicate measures taken by government to mitigate economic hardships this week

Finance Minister, Ken Ofori-Atta, is expected to communicate key measures and reliefs sanctioned by government to recover the economy later this week, after a crunch three-day Cabinet retreat chaired by President Akufo-Addo.

A press statement issued by the Information Ministry on Monday said the measures include ones that would mitigate the current hardships in the country.

Government held a cabinet meeting over the weekend at Peduase in the Eastern Region to find solutions to the hard economic difficulties, including the persistent rise in the prices of goods and services, rising fuel prices and the growing depreciation of the cedi.

Details on some of the reliefs will include the reopening of land borders, the easing of Covid-19 restrictions, and measures to arrest the depreciating cedi.

“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 programmes mean 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.

In the coming days, President Akufo-Addo, Finance Minister Ken Ofori-Atta and other ministers will provide details on which sectors will experience expenditure cuts.

They are also expected to explain how the government will respond to current global economic difficulties.