Ghana's economic recovery moving in the right direction - Richard Ahiagbah

Following the announcement of June inflation by the Ghana Statistical Service last week, the Director of Communications for the governing New Patriotic Party (NPP), Richard Ahiagbah, has said Ghana's economic recovery was gradually moving in the right direction.

June inflation increased marginally to 42.5 percent compared to the 42.2 percent recorded in May this year.

Reacting to this marginal increment on the micro-blogging site - Twitter - and sighted by GhanaWeb Business, Richard Ahiagbah pointed out that inflation and fuel prices were relatively stable.

He called on Ghanaians to continue to support the government's recovery efforts to stabilize the economy which took a nose dive in 2020.

"4.2% first-quarter economic growth is 0.2% higher than the African Development Banks' overall 4% projection for the 2023 & 2024 fiscal years, and 1.5% higher than the 2.7% global projection for the 2023 fiscal year. Inflation and fuel prices are holding relatively stable showing that economic recovery is moving in the right direction. We humbly appeal to Ghanaians to continue to support the government's recovery efforts. It is getting better!" Richard Ahiagbah's tweet read.

Meanwhile, Government Statistician, Professor Samuel Kobina Annim, said the main drivers of this inflationary trend were food and non-food items.

Food and non-food items account for 54.2% and 33.4% respectively.

Read his tweet below;

4.2% first-quarter economic growth is 0.2% higher than the African Development Banks' overall 4% projection for the 2023 & 2024 fiscal years, and 1.5% higher than the 2.7% global projection for the 2023 fiscal year. Inflation and fuel prices are holding relatively stable showing…

— Richard Ahiagbah (@RAahiagbah) July 17, 2023