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Ofori-Atta: Economy will bounce back within the next two and a half years

The assurance comes as the government continues to negotiate with the International Monetary Fund for a bailout programme to put the economy back on track

Finance Minister Ken Ofori-Atta has assured Ghanaians the economy will bounce back in the next two and half years.

The assurance comes as the government continues to negotiate with the International Monetary Fund (IMF) for a bailout to put the country’s economy back on track.

Presenting the 2022 Mid-Year Budget Review in Parliament on Monday (25 July), Ofori-Atta said, “Just as we did in 2017 and 2020, the government is resolved to continue to provide that necessary leadership to turn the economy around.”

“Let me assure you on behalf of the president that we’ll do it again within the next two and a half years. We have demonstrated that we can transform this economy when we all come together and put our hearts and minds to it,” he said.

Ofori-Atta added, “Let me be quick to add that we’re not wavering at all in our resolve to turn this country around. Ours is a history of turning things around when the country is in crisis.”

Government formulating programme to form basis of IMF negotiation

Meanwhile, the government is currently developing a programme that will complement the Ghana COVID-19 Alleviation and Revitalisation of Enterprises Support (Ghana CARES) ‘Obaatanpa’ programme, Ofori-Atta has said.

He said, “Mr Speaker we are currently developing an enhanced domestic programme to complement the Ghana CARES Obaatanpaa programme to return us to the party of microeconomic stability, debt sustainability, robust growth and a Ghana Beyond Aid

“We expect this programme to be the basis of our negotiations with the International Monetary Fund.”

“In the coming months Mr Speaker we will continue to optimise and support our flagship programmes and make strategic investments in the railway sector, increase production, enhance productivity and creates job,” he said.

Fred Dzakpata

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