Today in History: We need to build more entreprenuers to address imported inflation - Ofori-Atta

Finance Minister, Ken Ofori-Atta, on May 16, 2022, said more entrepreneurs were needed to address imported inflation in Ghana.

Ken Ofori-Atta however assured of government’s commitment to investing in projects aimed at boosting Ghana’s entrepreneurial society.

Read the full story originally published on May 16, 2022 by www.ghanaweb.com.

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Finance Minister, Ken Ofori-Atta has called for increased entrepreneurial activities to address the current trend of high imported inflation in Ghana.

The Ghana Statistical Service recently announced the country in April this year recorded an inflation rate of 23.6 percent – the highest since 2004.

For the period, imported goods for the first time exceeded domestic inflation at 24.7 percent from an earlier 17.3 percent recorded for March. Inflation for locally produced items was however 23 percent from a previous 20 percent recorded in March.

Reacting to the development at a press briefing in Accra last week, the Finance Minister described the trend as an imported one which can only be addressed with increased entrepreneurial activities and investment in the sector.

He argued that the country needs more entrepreneurs to produce and manufacture locally to balance out the growing trend.

“Cabinet was quite precise about the budget and the theme of building an entrepreneurial society. So, the GH¢10 billion intervention where you’re going to have people create their own jobs and have work to do is going to be important and enhance productivity," the minister said.

He continued, “Because of imported inflation, what are you going to do about food, fuel, and financing out there? The question is whether we can get our people to be more productive so that we move towards an environment where people are in control of their destiny.”

Ken Ofori-Atta however assured of government’s commitment to investing in projects aimed at boosting Ghana’s entrepreneurial society.

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