A finance expert, Prof Williams Kwasi Peprah, has said the decrease in Ghana’s inflation from 54.1% in December 2022 to 40.1% in August 2023 is a huge achievement for the government.

He said the government’s ability to be able to bring inflation down should be applauded.

“A major green thick is how the government has been able work to bring a drastic reduction in the inflation rate from 54.1% as at December 2022 to 40.1% in August 2023. This is a major achievement for government based on the structural policies,” Peprah was quoted by asaaseradio.com.

According to him, a review by the International Monetary Fund should have seen Ghana’s inflation figures a bit higher than 40% therefore this is a good sign of the economy’s performance.

“By this review [IMF review] should have been around 45% so if we doing 40.1% it is a major achievement… let me say that 40.1% is also on the high side but I’m just comparing it to the level of 54.1% in December…,” he said.

The finance expert said if the government is able to strictly abide by the plan “we may see a drastic reduction in the inflationary issues; as we know if the inflation rate is coming down, it affects the economy…”

SSD/NOQ

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