{"id":1219049,"date":"2022-10-08T14:27:17","date_gmt":"2022-10-08T14:27:17","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/10\/08\/government-is-clueless-on-how-to-resolve-economic-crisis-alex-mould\/"},"modified":"2022-10-08T14:27:17","modified_gmt":"2022-10-08T14:27:17","slug":"government-is-clueless-on-how-to-resolve-economic-crisis-alex-mould","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/10\/08\/government-is-clueless-on-how-to-resolve-economic-crisis-alex-mould\/","title":{"rendered":"Government is clueless on how to resolve economic crisis &#8211; Alex Mould"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/RESUBMITTED-Mr-Mould-addressing-the-conference.jpg\" \/><\/p>\n<div id=\"article-text\">\n<p>Former Chief Executive Officer of\u00a0the Ghana National Petroleum Corporation (GNPC), Alex Mould says President Akufo-Addo\u2019s government has run out of ideas on how to run the economy.<\/p>\n<p>According to Mr. Mould, government\u2019s inability to cutdown on expenditure is largely the reason for which Ghana\u2019s economy is in its current state.<\/p>\n<p>Government\u2019s borrowing has increased to over a hundred percent of GDP with the World Bank expressing fears that this situation could get worse by end of this year.<\/p>\n<p>Speaking on Ghana\u2019s ailing economy on <strong>The Pulse<\/strong> on Thursday, October 6, 2022, the former GNPC boss stated that,\u00a0\u201cthe government is in a pickle and I think they have run out of ideas, and I think they really need help\u201d.<\/p>\n<div class=\"youtube-embed\" data-video_id=\"02cOZaO3OE0\"><iframe loading=\"lazy\" title=\"Government is clueless on how to resolve economic Crisis - Alex Mould\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/02cOZaO3OE0?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<p>When asked how an immediate solution could be fashioned out, Mr. Mould noted that, \u201cthey (government) should have cut their expenditure, especially on discretionary spending, their landmark policy programmes that do not add anything to our GDP, they should have looked at the sectors that we should have invested in (agriculture) so that we do not have the kind of inflation we are having now.\u201d<\/p>\n<p>\u201dAny government that does a haircut to individuals will stifle savings. If you stifle savings, people are not going to put their monies in banks and that\u2019s going to have a ripple effect on the economy, because the banks are the intermediaries for loans to these companies that need working capital and if there are no funds, these companies are going to also fold up, there\u2019s going to be job losses,\u201d he cautioned.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Former Chief Executive Officer of\u00a0the Ghana National Petroleum Corporation (GNPC), Alex Mould says President Akufo-Addo\u2019s government has run out of ideas on how to run the economy. According to Mr. Mould, government\u2019s inability to cutdown on expenditure is largely the reason for which Ghana\u2019s economy is in its current state. Government\u2019s borrowing has increased to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1219051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[6732,8836,1856,3010,1090,23394,1224],"class_list":["post-1219049","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-alex","tag-clueless","tag-crisis","tag-economic","tag-government","tag-mould","tag-resolve"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1219049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1219049"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1219049\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1219049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1219049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1219049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}