The Cedi has declined about 58% in value against major currencies, since the beginning of 2022, Finance Minister Ken Ofori-Atta has said.
Presenting the 2023 Budget in parliament on Thursday, Mr Ofori-Atta said “the demand for foreign exchange to support our unbridled demand for imports undermines and weakens the value of the cedi. This contributed to the depreciation of the Cedi which has lost about 53.8% of its value since the beginning of this year compared to the average 7% annual depreciation of the Cedi between 2017 and 2021.”
The Finance Minister is currently presenting the 2023 Budget Statement and Economic Policy of the Government to Parliament aimed at restoring and stabilising the macroeconomy.
“The 2023 Budget will focus on government’s strategies to restore and stabilise the macroeconomy, build resilience, and promote inclusive growth and value creation,” the statement from the Finance Ministry said.
NAIMOS has intensified its fight against illegal mining at some parts of the Ahafo Region,… Read More
Former Finance Minister Ken Ofori-Atta is scheduled to appear before a court in the United… Read More
The Deputy Chief Executive Officer of the Gaming Commission of Ghana, Lamtiig Apanga, has advised… Read More
Renowned Ghanaian gospel music pioneer and founder of the Asomafo gospel ensemble, Yaw Sarpong, has… Read More
Former Forestry Commission official Charles Owusu has lauded former President John Mahama for demonstrating humility… Read More
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has attributed the recent decline in… Read More