Bank of Ghana (BoG) Governor, Dr. Johnson Asiama, has revealed that the upcoming 2025 national budget will include targeted measures to address food inflation, which has become a key driver of rising overall inflation.

In an exclusive interview with Bloomberg, Dr. Asiama acknowledged that the latest inflation numbers had exceeded expectations, primarily due to persistent structural issues with food prices. “The last reading was higher than we anticipated, but the root cause of the inflationary pressures is largely food-related and structural in nature,” he explained. “The upcoming budget will focus on strategies to curb food inflation, and if successful, we expect to return to a path of disinflation.”

Dr. Asiama also announced that the Bank of Ghana’s Monetary Policy Committee (MPC) would meet next month to review the current economic climate and adjust monetary policies as needed. “We will reassess the situation at our next meeting and make the necessary decisions to stabilize the economy. Once we have a solid monetary policy and food price inflation is under control, inflation should return to its target range,” he added.

In related news, Anthony Sarpong, the acting Commissioner-General of the Ghana Revenue Authority (GRA), has defended the government’s ambitious GH₵200 billion revenue target for 2025, despite skepticism from critics. “While it may seem daunting, I am confident that with determination, the right strategies, and effective teamwork, we can meet this challenge,” Sarpong said during an interview with ChannelOneTV.

He pointed to improving VAT performance currently contributing just 17% of domestic tax revenue, far below the 50% seen in comparable economies as a crucial step toward achieving the target.

Source:TheDotNews