Professor Baffour Agyeman-Duah, a governance expert and co-founder of the Centre for Democratic Development (CDD-Ghana), says Ghana’s economy has regained a measure of confidence under President John Dramani Mahama, citing declining global oil prices, improved fiscal discipline and renewed market stability.
According to him, crude oil prices on the world market have fallen from the low 70s to the low 60s per barrel, providing fiscal space for economic adjustment.
Speaking on Morning Starr with Naa Dedei Tettey, Prof Agyeman-Duah said, “The world market for oil, the price has gone down significantly from the 70s, low 70s to low 60s, the barrel… they have very wisely utilised these new opportunities to shore up the economy.”
However, he cautioned that the critical challenge ahead lies in sustaining the gains made so far.
“What is important now is the issue of sustainability… how we sustain it in the coming years,” he said, adding that debates over whether economic figures are being “massaged” should not overshadow observable improvements.
“The fact is that changes have occurred, and I’m praying that the government finds a way to sustain it,” Prof Agyeman-Duah noted.
Source: Starrfm.com.gh
