Ghana’s economy heading for a crash – Dalex CEO

General News of Thursday, 12 February 2015

Source: myjoyonline.com

Economy Sign

Chief Executive of Dalex Finance, Ken Thompson, says there are strong indications Ghana’s economy is heading towards further difficulties in the coming months.

“We are heading for a crash…if you are doing a business that will be earning you cedis, don’t take a dollar loan. It will wipe you out”, he said at a lecture organised by Chartered Institute of Marketing Ghana (CIMG).

According to him, figures produced by the Monetary Policy Committee indicate that Ghana is broke.

“If you earn a thousand cedis and you spend a thousand two hundred cedis you are broke. Ghana is broke”, he stressed.

Mr Thompson cited figures from the bank of Ghana that showed that government revenue was GH¢17billion as against an expenditure of GH¢24billion.

“We got to strive for operational efficiency in this country. We are very wasteful in this country. We are extremely wasteful in this country”, he said.

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