Govt reviews effect of global increases of oil and food

Accra, May 14, GNA-Government on Wednesday said it would soon announce measures aimed at reducing the effects of global fuel and food crisis.

A statement Mr Stephen Asamoah-Boateng, Minister of Information and National Orientation signed said; "Cabinet has for sometime now been examining the global crude oil price increases and its effect on the Ghanaian economy."

It said when it met on Wednesday, it reviewed the options available to the government on how to effectively manage the global fuel price increases and the increase in the prices of goods and services, especially food items.

The statement said, "Government wishes to assure the nation that the economy as at now is in a good shape due to the strong macroeconomic indicators and with the discovery of oil, it is expected that the economy will improve greatly."