The Ministry of Information disclosed this in a statement issued on Monday, March 21, 2022.
The Ministry indicated that Cabinet at its retreat at Peduase Lodge in Aburi earlier this month among other things discussed extensively the impact of global economic difficulties on Ghana and the Ghanaian people.
It also disclosed that President Nana Addo Dankwa Akufo-Addo has 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 global fuel price hikes and inflation as well as ensuring that priority programs meant to grow the economy are protected.
“The Finance Minister, Ken Ofori-Atta will later this week provide the details of measures after consultations with key social and economic stakeholders.”
“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.”
Ghana’s economy is going through turbulent times as it is plagued with a number of challenges, including rising inflation and the rising cost of fuel.
The country’s currency is also suffering depreciation, especially against the US dollar, while the public debt level has attained an unsustainable level.
Various suggestions are being made on how to salvage the situation including calls for the government to cut down on its expenditure.