Finance Minister Ken Ofori-Atta has attributed the persistent decline in inflation to the government's unwavering commitment to restoring macroeconomic stability.

This marks the fourth consecutive decrease, with the November rate standing at 26.4 percent.

During the dividend presentation of 30.89 million cedis by the Board of Twifo Oil Palm Plantation Limited to the government, Ofori-Atta underscored the tangible impact of these dedicated efforts on the economic landscape.

He highlighted the impressive performance, noting that inflation has been halved from 54 points at the end of the previous year.

“We saw yesterday inflation came down to 26.4% which is literally where we were at 54 points some time at the end of last year. So it is quite an impressive performance. And I know we have been through difficult times, but you look at inflation being halved. We see our growth which was expected to be 1.5% double to 3%. And we look at currency depreciation which since February has been about 7.2% declined a bit.”

“The inflation also indicated that Greater Accra had the slowest growth inflation and that is good. Food inflation is still problematic but even that was down considerably from 44% to 32% this time. So the supply is not the problem but the logistical movement is what we need to get efficient about,” he said.

Despite challenging times, the country has experienced notable achievements, with economic growth doubling from the expected 1.5% to 3%, and a slight decline in currency depreciation, which stood at about 7.2% since February.

Mr Ofori-Atta further delved into the details, stating that Greater Accra exhibited the slowest growth in inflation, a positive development.

While acknowledging the lingering issue of food inflation, he pointed out a considerable improvement from 44% to 32%. He identified the need to focus on logistical efficiency to address the challenges in the supply chain.

Deputy Minister of Finance, Abena Osei-Asare, echoed the sentiment by encouraging State-Owned Enterprises to strive for profitability.

She emphasized the government's ongoing efforts to enhance the business environment for sustained growth.

Madam Osei-Asare stressed the importance of collaboration between the government and these enterprises, noting that the government's investment cannot continue indefinitely without returns, and mutual efforts are essential for maintaining the observed growth.

“The government cannot continue to invest in these companies, and whatever is due to the government won’t be given to the government. So we appreciate what you have done, and we ask that we will continue to work with you in partnership to make sure you sustain this growth that we are seeing at your end,” she said.