Former Minister of Trade and Industry, Alan Kyerematen, has said Ghana's ballooning inflation rate will come down to a single digit if given the nod to lead the country as the President of the Republic.

The independent candidate on the ticket of the Movement for Change said his Great Transformational Plan (GTP) will make the high inflation take a downturn within 2 to 3 years.

Speaking on TV3's New Day show on Wednesday, September 27, 2023, Alan Kyerematen said, "within a matter of 2 to 3 years, inflation could be brought down to a single digit."

He stated that, “if we get the private sector and the business community working, we are good to go”.

Ghana's inflation rate for August 2023 stood at 40.1 per cent year-on-year.

The Consumer Price Index (CPI) for August 2023 was 190.6 compared to 136.0 for the same period in 2022.

This means that the general price level in August 2023 was 40.1 percent higher than in August 2022.

This indicates a substantial increase in the cost of living for Ghanaians.

Ghana's local economy took a nose dive after it was hit with the global pandemic - coronavirus and the outbreak of the Russia-Ukraine war.

Government has, however, put in measures to make the economy more robust to withstand any shock; locally or internationally.

SA/NOQ

Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Watch the latest edition of BizTech and BizHeadlines below: