Economist, Dr. Theo Acheampong, on November 18, 2023, asserted that market women in Ghana seem to have a better understanding of economics than the country\u2019s leaders and economic managers.<\/p>\n In his view, the projection of the country\u2019s GH\u00a21 trillion GDP shows that Ghana\u2019s current economic managers do not understand basic macroeconomics.<\/p>\n \u201cGH\u00a21 trillion GDP in nominal terms is meaningless in economics. It appears to show that the managers of the economy do not understand basic macroeconomics. I feel that our market women understand economics better than our leaders,\u201d Dr. Acheampong wrote.<\/p>\n Read the full story originally published on November 18, 2023 by www.ghanaweb.com.<\/p>\n Economist and Political Risk Analyst, Dr Theo Acheampong has described the government’s target of reaching GH\u00a21 trillion of GDP in 2024 as ‘meaningless’ in economic terms.<\/p>\n He argues that the mere projection shows that Ghana\u2019s current economic managers do not understand basic macroeconomics.<\/p>\n Sharing his view on the projection which was contained in the 2024 budget, Dr Acheampong pointed out that market women in Ghana seem to have a better understanding of economics than the country\u2019s leaders and economic managers.<\/p>\n He further questioned why the finance minister [Ken Ofori-Atta] would tout such a projection as an achievement.<\/p>\n \u201cGHS1 trillion GDP in nominal terms is MEANINGLESS in economics. It appears to show that the managers of the economy do not understand basic macroeconomics. I feel that our market women understand better economics than our leaders,\u201d Dr Acheampong wrote.<\/p>\n \u201cIf GHS1 trillion, is a “mere projection” as my good friend Sticka says, why should the finance minister tout it as achievement and jubilate,\u201d he added.<\/p>\n Meanwhile, Vice President of IMANI Africa, Bright Simons has also mocked the government\u2019s projection of attaining a Gross Domestic Product of GH\u00a21 trillion by 2024.<\/p>\n According to him, that would not necessarily be an achievement taking into consideration the current state of the country\u2019s inflation rate and the high exchange rate levels.<\/p>\n Delivering the 2024 budget before parliament on November 15, 2023, the Minister of Finance, Ken Ofori-Atta, said President Akufo-Addo\u2019s last year in office will see the projection of GH\u00a21 trillion Gross Domestic Product mark for the first time in Ghana\u2019s history.<\/p>\n Expressing confidence in the prospects of the 2024 budget, he said the government will implement fiscal consolidation measures and growth strategies aimed at achieving this target.<\/p>\n \u201cMr. Speaker, the 2024 budget is even more significant because we will cross the GH\u00a21 trillion Gross Domestic Product (GDP) mark for the first time in our economic history. Let me repeat, Mr. Speaker, Ghana’s economy under President Akufo-Addo’s final year in office is projected to be valued at over GH\u00a21 trillion in 2024 from GH\u00a2219.5 billion in 2016,\u201d Ken Ofori-Atta said.<\/p>\n See Dr Theo Acheampong’s tweet below:<\/b><\/p>\n GHS1 trillion GDP in nominal terms is MEANINGLESS in economics. It appears to show that the managers of the economy do not understand basic macroeconomics. I feel that our market women understand better economics than our leaders. If GHS1 trillion, is a “mere projection” as my\u2026<\/p>\n \u2014 Theo Acheampong, PhD (@mytheoz) November 18, 2023<\/p>\n SA<\/p>\n Watch the latest edition of BizTech below:<\/b><\/p>\n![\"Economist,](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/996\/99607163.295.jpg\" "\\"Economist,")
Economist, Dr. Theo Acheampong<\/span><\/span><\/p>\n<\/div>\n