The IMANI Center for Policy and Education wants government to diminish its borrowing habits and grant the private sector an opportunity to flourish.
According to the center, governments borrowing stance crowds out the private sector and hinders the growth of the sector.
A business environment report study conducted by IMANI in collaboration with the Business Sector Advocacy Challenge (BUSAC) Fund also revealed that government’s massive borrowing is a major drawback in growing the economy.
Speaking to Citi Business News, President and CEO of IMANI, Franklyn Cudjoe, said government should take a second look at the economy and revise their actions to save the private sector.
“All these politicians keep promising all kinds of things and from what this report is revealing, the size or the extent to which government borrows and muscles out the private sector, is one significant drawback in our effort to grow this economy. No serious economy is championed or grown just because the government wants to be in business it doesn’t make sense.” he stated.
He further urged government to guarantee a productive private sector to the benefit of the country as a whole.
“What you need is to reduce your involvement in business and ensure that the productive private sector and I add productive private sector is engaged in a way that will enhance the delivery that we all need.”
By: Jessica Ayorkor Aryee/citibusinessnews/Ghana