President John Mahama has reaffirmed his government’s commitment to sustaining inflation within single digits, following a marked drop in the rate to 3.2 per cent.
The President said the achievement forms part of a broader strategy to stabilise the economy through disciplined fiscal management and prudent financial policies.
Speaking during a citizen engagement at the University of Development Studies on Sunday, April 19, he noted that inflation, which was above 24 per cent when his administration took office, has now fallen to below 4 per cent.
He attributed the decline to deliberate efforts to control public spending and limit excessive borrowing, particularly at a time when Ghana’s access to international capital markets remains constrained due to its debt challenges.
“We’ve been able to manage the petroleum prices so that we cushion our citizens and prevent inflation from going back up to the levels that we came to meet it.
“When we came into office, inflation was running above 24%; it has been brought down to under 4%, and we intend to keep it there. We have done this by just being fiscally disciplined,” he stated.
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Source: www.myjoyonline.com