The Minister of State in charge of Government Communications, Felix Kwakye Ofosu, has said Ghana has recorded a notable decline in the cost of living, attributing the improvement primarily to reductions in fuel prices and import costs.
Speaking at the Government Accountability Series on Wednesday, January 14, Mr Kwakye Ofosu highlighted recent economic indicators showing relief for households, noting that the changes were tangible in the daily experiences of Ghanaians.
“So, people must criticise government policy, but to pretend that what is obvious before all of us is not helpful. It is just like swimming against a waterfall; you will not succeed,” he said, urging citizens to acknowledge the progress made.
He explained that ordinary consumers could verify the improvements themselves.
“When a man goes to buy fuel at the pump, it is easy for him to compare what he used to pay before and what he is paying now,” Mr Kwakye Ofosu noted, adding that while prices could fall further, the current reductions reflect competent economic management.
The Minister acknowledged ongoing structural challenges, particularly the need to balance imports and exports, but emphasised that the government remained committed to sustaining gains and implementing policies for long-term stability and growth.
“It will take some time to bridge the gap between import and export. We should be able to achieve import substitution; then we can think about exporting further,” he said.
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