A member of the Finance Committee and Member of Parliament (MP) for Ho Central, Benjamin Kpodo has indicated that Ghana's economy is on a sound footing.

He was corroborating assertions made by the Finance Minister Seth Terkper when he appeared before Parliament to present a statement on the state of the economy.

According to him, even though the country is currently experiencing some economic down turn, the future prospect is good.

Speaking to Joy News Wednesday, Mr. Kpodo dismissed assertions that recent interventions by the Bank of Ghana to address challenges facing the country's falling currency would scare away investors.

He further insisted that investments into the country have not diminished despite the problems the Ghanaian economy is facing. He added there are companies in the country that are making profits on their investments.

Both local and foreign investors have been complaining about the rate at which the cedi is falling, a phenomenon they lament is affecting business.

But presenting a statement on the floor of Parliament Tuesday, Mr. Terkper said the faith of many investors in the country has not waned.

"Ghana remains a favourable investment destination", the finance minister intimated, as he takes measures to improve investments into the country.