Finance Minister Dr. Cassiel Ato Forson has outlined significant economic progress during the current government’s first six months, emphasizing notable reductions in the cost of essential goods and an unprecedented appreciation of the Ghana Cedi.
Speaking on the floor of Parliament during the midyear budget review, Dr. Forson highlighted efforts that have eased the financial burden on both households and businesses.
“This level of appreciation of the Ghana Cedi has never happened in the history of our nation,” he declared, underscoring the currency’s strengthened position.
Dr. Forson also pointed to substantial decreases in the prices of key commodities at the consumer level. Petrol and diesel prices at the pump have dropped significantly, benefiting consumers nationwide.
“Prices of petrol and diesel at the pump have reduced significantly to the benefit of consumers; and Prices of sugar, rice and cooking oil at a 4-year low,” he stated.
Additionally, staple items such as sugar, rice, and cooking oil have reached their lowest price points in four years.
The minister provided detailed comparisons between prices in January and current rates:
• The price of a 25kg bag of royal aroma rice which used to be sold for GH¢650 in January is now being sold for GH¢356.
• The price of olonka of sugar which used to be sold for GH¢50 in January is now being sold for GH¢44.
• The price of a 25litres of cooking oil which used to be sold for GH¢980 in January is now being sold for GH¢640.
• The price of Kokonte (1 sack) which used to be
sold for GH¢1,200 in January is now being sold for
GH¢950.
• A tonne of iron Rods which used to be sold at
GH¢9,400 in January is now being sold for
GH¢7,500.
• Onion (1 Paint bucket) which used to be sold at
GH¢120 in January is now being sold for GH¢95.
• POP Cement which used to be sold for GH¢115 in
January is now being sold for GH¢90.
• Maize (1 sack) which used to be sold for GH¢1,600 in January is now being sold for GH¢1,450.
• The price of Yazz Sanitary Pad which was GH¢25 in January is now going for GH¢15.
• Palm fruits (1 Olonka) which used to be sold for
GH¢40 is now being sold for GH¢25.
“This is the reset President Mahama promised,” Dr. Forson said, attributing the improvements to six months of diligent governance.
He reiterated the government’s commitment to alleviating economic pressures and supporting Ghanaian households and enterprises during challenging times.
Source: www.kumasimail/Kwadwo Owusu
