Business News of Tuesday, 24 January 2017
Renowned Economist, Mr. Kusi Boafo has predicted that it will take President Nana Akufo-Addo and his economic team two years to start seeing some reliefs in the current economic situation in the country.
According to him, Ghana’s economic fundamentals are too weak to see signs of improvement within the first year of President Akufo-Addo’s administration.
Speaking to the choice of Mr. Ken Ofori Atta for the Finance Ministry and Hon. Osafo Maafo as Senior Minister by President Akufo-Addo, Mr. Kusi Baofo on Okay FM’s ‘Ade Akye Abia’ Morning Show said they have rich experience to help solve the economic problems.
He stressed that despite the economic prowess of the appointees like; Ken Ofori Atta, Hon. Osafo Maafo and Dr. Anthony Osei Akoto, Ghana’s economy will show positive signs in 2019; urging Ghanaians to understand that things will not change overnight.
“Akufo-Addo’s government cannot solve all the challenges within a year or two and Ghanaians must understand that things will not change overnight. Ghana has weak economic fundamentals and it will take experience and hard working appointees to do better negotiations to resolve our economic fundamentals,” he averred.
He again emphasized that “without economic fundamentals, we cannot develop and restore confidence in Ghanaians; they need deeper understanding of the economic situation and the people who have been packed at vantage places of the economy will help strengthen the weak economy.”
He hinted that though the economy is weak, the country has potentials to overturn the economic situation; reiterating it will take hard work, determination, honesty and knowledge to make it a reality.
“Ghana’s economic success will take a while because managing the economy is not practicing magic,” he stressed.