Chairman of Parliament’s Finance Committee and Bolgatanga Central MP, Isaac Adongo, says the government’s immediate economic priority in 2025 was to restore stability to key macroeconomic indicators, even if the measures created temporary difficulties for businesses.
According to him, the interventions were necessary to address major economic imbalances, particularly rising inflation and instability in other critical variables that were affecting livelihoods and investor confidence.
Mr Adongo explained that although there was no single policy specifically targeted at interest rates or exchange rate levels, broader fiscal and monetary measures helped restore calm to the economy.
He noted that the stabilisation process was aimed at easing the economic hardship facing Ghanaians and laying the foundation for long-term growth.
The lawmaker further stated that government is now in a position to redirect attention towards supporting businesses, increasing production and strengthening the productive sectors of the economy.
“Feedback is good and I perfectly agree with producers that central bank should be in a place to support them grow their businesses,” Mr Adongo said on Channel One TV on Wednesday, May 6.
“We needed to deal with the pain that the Ghanaian people were going through. We thought that a lot of those variables were misbehaving, and we needed to get them to behave. Now we have achieved stability. We can now go back to the drawing board and say that Ghanaians have got relief. How do we ensure that monetary policy is able to anchor production and improve local production? he added.
Mr Adongo stressed that feedback from stakeholders within the productive sector would shape future policy direction, expressing confidence that additional support measures for businesses would be reflected in the government’s economic strategy from 2026 onward.
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Source: www.myjoyonline.com