Professor John Gatsi, Dean of the University of Cape Coast Business School (UCCBS), claims that Finance Minister Ken Ofori-Atta has no idea what sort of economy he is governing.
This follows the Minister of Finance, Ken Ofori-Atta, noting that the current fall in inflation numbers indicates that Ghana’s economy is recovering.
The UCCBS dean noted on the Morning Starr with Francis Abban that problems leading to the country’s economic distress have not been addressed.
“You need to appreciate where the Finance Minister is coming from the whole IMF programme which he rejected but accepted later on. He needs to show that it is working. The Finance Minister when he was presenting his economic indicators will want to compare it to about 10 years ago, about 15 years ago.
“Why are we turning the corner just because we are comparing inflation figures which are not responsive to policy rate and not responsive to the cost of doing business in the country. The inflation rate is not bringing down the policy rate. The exchange rate is still high. So I don’t know which corner we have turned,” Professor Gatsi stated.
He continued: “Our problem is corruption, unemployment, and people selling jobs at the government departments which people are saying all around. We have a high cost of doing business. Those are the problems and they have not changed any beat.
“So I wonder how somebody will just look at the inflation figures and then say that we have turned the corner. It means that person doesn’t appreciate the economy he is managing.”