During the presentation of the mid-year fiscal policy review in Parliament on Tuesday, July 23, 2024, Finance Minister Dr. Mohammed Amin Adam expressed his sympathy for Ghanaians facing ongoing economic difficulties. He acknowledged that the past two years have been particularly challenging on a global scale, with significant impacts on businesses, families, and especially the vulnerable segments of society.
Dr. Amin Adam, who is also the Member of Parliament for Karaga, highlighted the severe economic pressures that have driven many youths to seek employment beyond what the state can offer.
“Mr. Speaker, the last two years have been extremely challenging globally, and Ghana has not been an exception. The difficult economic environment has truly affected businesses and families, particularly the vulnerable in our society,” he said. “These challenges have severely affected households, increased the cost of living, and limited the creation of job opportunities. Our young people continue to seek employment opportunities beyond what the state can provide. It has, indeed, Mr. Speaker, been a difficult time, and I empathise with our entire fellow Ghanaians.”
Despite these hardships, Dr. Amin Adam underscored the government’s efforts to steer the nation back towards fiscal stability and growth. He emphasised that the measures implemented over the past two years are starting to yield positive outcomes.
“Mr. Speaker, over the last two years, the government has embarked on a number of decisive measures to get us back on the path of fiscal consolidation, economic stability, and growth. I am happy to note that these policies that we have implemented are yielding the expected results,” he stated.
The Finance Minister’s address comes at a crucial time, offering an overview of the government’s fiscal policies and their impact. It also reflects the administration’s commitment to addressing economic challenges and improving the livelihoods of Ghanaians. As the country navigates through these difficult times, the government’s focus remains on ensuring economic recovery and stability.