‘There is no question that things are difficult’ – Ofori-Atta admits - www.asempanews.com

Finance Minister, Ken Ofori-Atta has admitted that things are difficult under prevailing economic conditions.

He explains that the hard times are also not unique to Ghana alone but rather a global occurrence that has been brought on by the impact of the Russia-Ukraine war and aftershocks of the COVID-19 pandemic.

“Let’s acknowledge that there is no question that things are difficult, but things are difficult globally

“The truth of the matter is that when you have US$70 per barrel crude and goes as high as 133 and is now averaging about 105, it is problematic

When our import content is much higher than our neighbours, that is problematic,” he submitted.

Asked about who to blame for the economic downturn, Ofori-Atta said it was a structural problem more than anything else, “How can that be anybody’s fault when it is structural and the question is how can you change the structural element within a certain period?”

He also defended the banking sector cleanup stating that doing so saved the banking system from collapse