Analyst dismisses Mahama economic policiesfrom RUSSELL ADADEVOH in Accra, Ghana
ACCRA – GHANAIAN President, John Mahama, has no capacity to reverse the country’s economic woes within a space of 12 months, a senior business expert has said.
University of Ghana Business School’s Head of Finance and Economist, Godfrey Bokpin, dismissed Mahama’s assertion that the country’s economy would improve this year.
He cited a number of reasons he believed would work against his economic aspirations.
Bokpin argued that the high inflation rate for 2014, huge budget deficit, power shortage, unemployment as well as the continued weakening of the Cedi against the US Dollar were key issues of concern to the West Africa’s second largest economy.
“We have heard those statements, promises and commitments a number of times but we have missed them so it is very difficult to say that yes this year will be a major turn around.
“I do not see a major or significant turn around in the economy this year because… the fundamentals are not right, the kind of structural adjustment, realignment that we needed to do, 12 months is too short for such a thing to take place,” Bokpin said.
He argued that the country had not put in place the necessary structural reforms to ensure a revived economy in 2015.
Bokpin said such actions would always work against Mahama’s economic turnaround.
Mahama insisted in his new year message that the country would manage its past economic challenges for the betterment of Ghanaians lives.
– CAJ News
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