An economic lecturer of the University of Ghana Business School, Prof. Lord Mensah has revealed that contrary to the perception that the country’s economic foundation is strong, it is rather weak and needs fixing.
Reacting to President Nana Addo Dankwa Akufo-Addo’s recent comment that the country’s economic foundation is solid, Prof Mensah thinks otherwise.
In an interview with Ohene Addo, host of Plan-B FM morning show, Nkosou Nsem, Prof Mensah noted that a careful look at the details of the country’s economic foundation will reveal that it is rather weak and added that this can further be understood when the citizenry especially the working force or those employed are engaged.
He continued that even though the economy is not that strong, the government need some form of recommendation what the effort and policies it has put in place to help the citizenry in the face of the outbreak of coronavirus.
He adds that despite that there is more room for improvement because prices for goods and services in the country are still on the rise with unemployment rate very high with each passing day.
Professor Lord Mensah further explained the country’s GDP is growing due to the government continued borrowing adding that due to coronavirus there been a lot of restriction which made it difficult for good and services to move around which could made things a bit easier.
He called for an increase in effort on the part of policy initiators with an explanation that even though a lot happen during the outbreak of the virus, the physical infrastructure did not change.
Concluding, he pointed out the country could still turn things around if a lot of effort is put in place.
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