15th November 2023 1:27:34 PM
1 min readGovernment has named the 2024 Annual Budget Statement and Economic Policy a victory budget.
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Speaking on the floor of Parliament today, Finance Minister, Ken Ofori-Atta referred to the statement as the "Nkunim budget".
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In his subsequent submissions, the Finance Minister reiterated that the government has managed to "turn the corner" which has seen to the growth in the economy.
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"So far, growth in 2023 has been more resilient than expected, inflation has declined in line with the fundamentals, the fiscal and external balances have improved, and the exchange rate has stabilised," he added.
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The Cedi has stabilized against the dollar since early 2023 with a year-to-date, cumulative depreciation of 25.7 percent compared to 54.1 percent over the same period in 2022. Specifically, the cedi has only depreciated by 6.4 percent on cumulative basis since February 2023 compared to 53.9 percent over same period in 2022.
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The Minister currently continues to update Parliament on government's plans for the economy next year.
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