Presenting the 2024 budget in parliament on November 15, 2024, Finance Minister Ken Ofori-Atta outlined the government's macroeconomic targets for the fiscal year.

These targets, aligned with overall macroeconomic objectives and medium-term goals, include Overall Real GDP growth of at least 2.8 percent, non-oil real GDP growth of at least 2.1 percent, end-period inflation rate of 15.0 percent, primary balance on Commitment basis of a surplus of 0.5 percent of GDP, and gross international reserves to cover not less than 3.0 months of imports.

Notably, this budget marks the first since the commencement of the country's $3 billion International Monetary Fund program, requiring the specified targets to align with the program's requirements.

The Minister said: “Inflation is expected to remain within the IMF programme’s Monetary Policy Consultation Clause (MPCC) of 29.4 percent, with a symmetric band of 4.0 percent at the end of 2023, an end-year target of 15% in 2024 and trend further down to the medium-term target band of 8±2 percent by end-December 2025.”

“A tight monetary policy stance, favourable base drifts, relative stability on the foreign exchange market, and a favourable food harvest are expected to outweigh inflationary pressures over the near term,” he said.