{"id":161194,"date":"2024-03-12T05:17:13","date_gmt":"2024-03-12T05:17:13","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/12\/ghanas-economy-has-not-turned-the-corner\/"},"modified":"2024-03-12T05:17:13","modified_gmt":"2024-03-12T05:17:13","slug":"ghanas-economy-has-not-turned-the-corner","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/12\/ghanas-economy-has-not-turned-the-corner\/","title":{"rendered":"Ghana’s economy has not turned the corner"},"content":{"rendered":"

<\/p>\n

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Financial Analyst, Kofi Arkaah, has expressed scepticism regarding the consistent claims made by government officials that Ghana\u2019s economy has turned the corner.<\/p>\n

President Nana Addo Dankwa Akufo-Addo, in his Christmas message on December 25, 2023, and the 2024 budget announcement, indicated a positive economic shift after three challenging years.<\/p>\n

In an interview on Citi TV\u2019s \u201cThe Point of View<\/strong>,\u201d Arkaah proposed that Ghana\u2019s economy is presently in a stabilization phase, questioning the extent to which it has genuinely turned around.<\/p>\n

\u201cNo, I don\u2019t think Ghana\u2019s economy has turned the corner. Ghana\u2019s economy is in a period of stabilization and that stabilization will take the next three years. Ghana\u2019s growth rate is 2.8%, Ghana\u2019s population growth rate is 1.9%, GDP growth rate is 2%. We are growing just below 1%. And if you look at the forecast for the next 2 to 3 years, they are the same. We are just flat to be growing a little bit,\u201d he told host Bernard Avle.<\/p>\n

He forecasted a potential turnaround for Ghana\u2019s economy if fiscal policies are implemented to curb reckless borrowing and corruption following the International Monetary Fund (IMF) bailout.<\/p>\n

\u201cPost the IMF deal leaving and ending, if we can sustain optimal reserve ratio, but more importantly implement fiscal policies which will curb the reckless borrowing that we engaged in. And also check the systematic corruption that has occurred in Ghana over the last 7 years, then we stand a chance,\u201d he opined.<\/p>\n

When asked if Ghana\u2019s challenges were more monetary or fiscal, he responded, \u201cThey were both, if you ask me, I think the primary problems came from the fiscal side. On the monetary side, the central bank has its primary roles of cutting excessive spending and price stability.\u201d<\/p>\n

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Financial Analyst, Kofi Arkaah, has expressed scepticism regarding the consistent claims made by government officials that Ghana\u2019s economy has turned the corner. President Nana Addo Dankwa Akufo-Addo, in his Christmas message on December 25, 2023, and the 2024 budget announcement, indicated a positive economic shift after three challenging years. In an interview on Citi TV\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":161195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-161194","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\nGhana's economy has not turned the corner - 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\/2024\/03\/12\/ghanas-economy-has-not-turned-the-corner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana's economy has not turned the corner - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Financial Analyst, Kofi Arkaah, has expressed scepticism regarding the consistent claims made by government officials that Ghana\u2019s economy has turned the corner. 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