The Dean of University of Cape Coast Business School (UCCBS), Professor John Gatsi says the Minister for Finance, Ken Ofori-Atta does not know the kind of economy he is managing.
This comes on the back of the Minister of Finance, Ken Ofori-Atta stating that the current decline of inflation figures are indications that Ghana’s economy is bouncing back.
Speaking on the Morning Starr with Francis Abban, the UCCBS dean explained that factors contributing to the economic hardship in the country have not been dealt with.
“You need to appreciate where the Finance Minister is coming from the whole IMF programme which he rejected but accepted later on. He needs to show that it is working. The Finance Minister when he was presenting his economic indicators will want to compare it to about 10 years ago, about 15 years ago.
“Why are we turning the corner just because we are comparing inflation figures which are not responsive to policy rate and not responsive to the cost of doing business in the country. The inflation rate is not bringing down the policy rate. The exchange rate is still high. So I don’t know which corner we have turned,” Professor Gatsi stated.
He continued: “Our problem is corruption, unemployment, and people selling jobs at the government departments which people are saying all around. We have a high cost of doing business. Those are the problems and they have not changed any beat.
“So I wonder how somebody will just look at the inflation figures and then say that we have turned the corner. It means that person doesn’t appreciate the economy he is managing.”
Source: Ghana/Starrfm.com.gh/103.5FM
