Audio By Carbonatix
Managers of the economy should be wary of the potential negative economic implications of high growth rate.
That is the warning from renowned economist Dr Joe Abbey who says high growth rate, especially if it is not well-managed, could negatively affect the economy.
The revised GDP estimate for 2011 released by the statistical services indicates the economy grew by 14.4 percent.
This is the highest growth the country has witnessed in a long while. But Dr Abbey, speaking to JOY BUSINESS, said high growth rates come with some challenges and cautioned that care must be taken.
He said: “If you push things very hard you will see growth, yes, you’ll see more vehicles moving things on our bad roads and so on but the result will also be that you are overheating the economy.”
“And therefore you also find that you get more growth in production but you also you also get more inflation, cost will also escalate…and that is why you must keep on investing and relieving the infrastructural deficiencies in an economy. Other than that the growth is not sustainable.”
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
We owe the youth a different example, says Fifi Kwetey on setting tough standard for NDC
35 minutes -
My political ambition can die, but Ghana must rise – Fifi Kwetey
58 minutes -
Reset means business as usual must end starting from the NDC – Fifi Kwetey
1 hour -
NDC must end the hypocrisy if we want to reset Ghana – Fifi Kwetey
2 hours -
Peru’s president impeached four months into term
2 hours -
Philippine VP Sara Duterte announces presidential run in 2028
3 hours -
We’re sitting on a time bomb with Otto Addo ahead of World Cup – Coach Nimley
3 hours -
Ghana first, NDC second, me last – Fifi Kwetey’s hardline loyalty doctrine
3 hours -
Guirassy stars as Dortmund dispatch Atalanta
5 hours -
Arsenal make Saka best-paid player with new deal
5 hours -
Arteta ‘respectful’ of fans but has felt ‘exposed’
6 hours -
Vinicius’ brilliant winner beats Benfica in match halted for alleged racism
6 hours -
Alcaraz wins ‘difficult’ first match since Melbourne win
6 hours -
Galatasaray hit 5 past Juventus in frenetic first leg
6 hours -
Substitute Desire Doue inspires PSG comeback at Monaco
6 hours
