The Executive Secretary of the Importers and Exporters Association of Ghana (IEAG), Samson Asaki Awongobit, has praised the government’s efforts to stabilize the economy, highlighting significant reductions in inflation and interest rates.
Speaking in an interview on Morning Starr with Isaac Addae on Friday, November 14, Mr. Awongobit said, “They brought inflation from 28% to 8%. They brought prime rate from 28% to 21.5%. Exchange rates… today we have been able to stabilize it and it has appreciated against the US dollar approximately about 35%.”
He further noted that the improvements are easing costs for businesses and consumers alike.
“Today if you go to the pump, you know how much you are buying. So because if you are clearing the cargo at the port, you are taking the transport. So at that time, we know how much we were paying for transportation fee. And today we know how much we are paying.”
Mr. Awongobit attributed the gains to better coordination between fiscal and monetary policy under the current administration:
“That was what was lacking in the previous government. The fiscal policy was sitting somewhere. The monetary policy was sitting somewhere. Today we have a government that is working in collaboration.”
He added that importers are expected to pass on the benefits of lower costs to consumers while emphasizing that the government’s efforts are focused on tangible results for ordinary Ghanaians.
Mr. Awingobit’s comments follow the presentation of the 2026 Budget Statement to Parliament by Finance Minister Dr. Cassiel Ato Forson on Thursday, November 13.
Analysts have hailed the budget for consolidating gains in inflation control, which now stands at 8 percent.
Dr. Forson underscored the government’s commitment to maintaining price stability, projecting that inflation will remain within the 8 ± 2 percent target band through 2028.
Source: Starrfm.com.gh
