Thomas Nyarko Ampem, the Deputy Minister-Designate for Finance, has declared his intention to assist the Minister of Finance in reaching the government’s goal of bringing inflation down to 8%.
Although achieving this objective would be difficult, he admitted that it is still possible with the correct policies and tactics.
Mr. Ampem emphasized the important role that food inflation plays in propelling overall inflation rates during his February 24 vetting before the Appointments Committee.
Lowering food prices must be the top priority in any significant attempt to curb inflation, he emphasized.
He responded by saying that the Ministry of Agriculture and the Finance Ministry would work together to increase food production and supply.
Mr. Ampem added that the depreciation of the Cedi is a major contributor to inflation because of Ghana’s high reliance on imports. He underlined that lowering inflation would require strengthening the Cedi.
Source: newsthemegh.com