{"id":604990,"date":"2019-04-04T12:24:09","date_gmt":"2019-04-04T12:24:09","guid":{"rendered":"<br><p>Prof. Godfred Alufar Bokpin is with the University of Ghana <\/p><div>\n<!-- \/1002554\/MJO_Announcement_250X340 -->\n<!-- <div id='div-gpt-ad-1550929497923-0' style='float:right;z-index: 996;height:340px; width:250px;'>\n\n<\/div> -->\n<!-- 27th April (1mo"},"modified":"2019-04-04T12:24:09","modified_gmt":"2019-04-04T12:24:09","slug":"enough-of-regime-comparison-bawumia-told","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/04\/04\/enough-of-regime-comparison-bawumia-told\/","title":{"rendered":"Enough of regime comparison- Bawumia told"},"content":{"rendered":"<p><\/p>\n<p>Prof. Godfred Alufar Bokpin is with the University of Ghana <\/p>\n<div>\n<!-- \/1002554\/MJO_Announcement_250X340 --><br \/>\n<!-- \n\n<div id='div-gpt-ad-1550929497923-0' style='float:right;z-index: 996;height:340px; width:250px;'>\n\n<\/div>\n\n --><br \/>\n<!-- 27th April (1month) - UHAS --><\/p>\n<div style=\"float:right;z-index: 996;height:340px; width:250px;\">\n<img decoding=\"async\" src=\"https:\/\/cdn.ghanamma.com\/2019\/03\/glauc-new.jpg\"\/>\n<\/div>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">A professor of finance with the University of Ghana has observed that<\/span><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:Arial,Helvetica,sans-serif\">\u00a0government<\/span><\/span><span style=\"font-family:Arial,Helvetica,sans-serif\"> can do more despite its enviable macroeconomic indicators compared to its processor. <\/span><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">According to Godfred Alufar Bokpin<b>,\u00a0<\/b>a preferred standard of measuring economic performance should be the Human Development Indicator, Social Progression Index, Happiness Index, among others.<\/span><\/p>\n<p><!-- \/1002554\/Myjoyonline\/mjo-article-leaderboard_mid-1 --><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">\u201cGross Domestic Product [GDP] growth is not enough. Way back in the 1930s where the whole concept of GDP growth came into being a measure of economic growth, it came with its own weaknesses but we have lived with it up to this time and that is why other indicators have been developed.<\/span><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">\u201cLet us look at where we could be, and compare ourselves to our proper peers with the middle-income regime, that will be very helpful,\u201d he told Daniel Dadzie Thursday on Joy FM\u2019s Super Morning Show. <\/span><\/p>\n<p><!-- \/1002554\/Myjoyonline\/mjo-article-leaderboard_mid-2 --><\/p>\n<p style=\"margin-left:0in; margin-right:0in\">Alufar Bokpin was speaking on the back of Wednesday\u2019s Town Hall meeting organized by the Economic Management Team (EMT) in Accra.\u00a0<\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">With a presentation laced with figures, graphs and illustrative gestures, Chairman of EMT,\u00a0Vice president, Dr. Mahamudu Bawumia,\u00a0 said\u00a0government has resuscitated the dead economy left to them and has weaned it from the\u00a0International Monetary Fund [IMF].\u00a0<\/span><\/p>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"260px\" src=\"https:\/\/clip.afrad.io\/?clipId=NRLaPL4yp4ezoQKaY\" width=\"100%\"><\/iframe><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">\u201cThe economy ended in 2012 with a fiscal deficit of 12.2% of GDP, 11.7% in 2013, 11.9% in 2014 before falling to 6.7% in 2015 but rose again to 9.3% in 2016.<\/span><\/p>\n<p><!-- \/1002554\/Myjoyonline\/mjo-article-leaderboard_mid --><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">\u201c We recorded for the first time in Ghana\u2019s history double-digit fiscal deficits in three consecutive years and plunged into a deep fiscal hole. Debt pileup began, debt service became burdensome on the budget, inflation soared, external trade balances worsened and the economy became more and more vulnerable to external shocks,\u201d he recounted the gloomy Mahama economy.<\/span><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">Contrasting this with the resurgence\u00a0government has brought to the economy, he said, \u201cthe ability of the economy to produce goods and services measured by real GDP growth is increasing. <\/span><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">\u201cGrowth for 2017 was 8.1%, significantly exceeding the average sub-Saharan African (SSA) growth of 2.7 per cent. GDP growth remained robust in 2018, almost double the average growth in SSA,\u201d the Vice President said to thunderous applause from the audience. <\/span><\/p>\n<p><!-- \/1002554\/Myjoyonline\/mjo-article-leaderboard_mid --><\/p>\n<p style=\"margin-left:0in; margin-right:0in\">But Alufar Bokpin who will not take anything away from the Akufo-Addo\u00a0government in the management of the economy,\u00a0said, \u201cAdmittedly we have made some progress in the last two years but we could have done better.\u201d<\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">He wants\u00a0government to exploit fully the potentials of the economy to the development of the people. \u00a0<\/span><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">Citing shortfalls in revenue mobilisation as a case in point, he lamented how \u201crevenue envelope has remained dwarfed from the previous government up until now. We have more than six million people in tax paying positions but just 1.5millin people pay tax in the country,\u201d he said.<\/span><\/p>\n<p><!-- \/1002554\/Myjoyonline\/mjo-article-leaderboard_mid --><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">The lecturer opined further that \u201cdebt sustainability analysis made on Ghana suggest that the country has not made enough progress.\u201d<\/span><\/p>\n<p style=\"margin-left:0in; margin-right:0in\"><span style=\"font-family:Arial,Helvetica,sans-serif\">He concluded that as commendable as the recent banking cleanup was,\u00a0government must do more to free money\u00a0locked up some investment portfolios such as Menzgold, and the many like it\u00a0for fluidity in the economy.<\/span><\/p>\n<p style=\"margin-left:0in; margin-right:0in\">\u00a0<\/p>\n<p style=\"margin-left:0in; margin-right:0in\">\u00a0<\/p>\n<\/div>\n<p><script async>(function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(d.getElementById(id))return;js=d.createElement(s);js.id=id;js.src=\"http:\/\/connect.facebook.net\/en_GB\/sdk.js#xfbml=1&version=v2.10&appId=1559506714349564\";fjs.parentNode.insertBefore(js,fjs);}(document,'script','facebook-jssdk'));<\/script><\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prof. Godfred Alufar Bokpin is with the University of Ghana A professor of finance with the University of Ghana has observed that\u00a0government can do more despite its enviable macroeconomic indicators compared to its processor. According to Godfred Alufar Bokpin,\u00a0a preferred standard of measuring economic performance should be the Human Development Indicator, Social Progression Index, Happiness [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":604991,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-604990","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Enough of regime comparison- Bawumia told - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/04\/04\/enough-of-regime-comparison-bawumia-told\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Enough of regime comparison- Bawumia told - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Prof. Godfred Alufar Bokpin is with the University of Ghana A professor of finance with the University of Ghana has observed that\u00a0government can do more despite its enviable macroeconomic indicators compared to its processor. 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