Founder of Danquah Institute, Gabby Otchere-Darko says the government should be commended for its management of the economy despite the challenges faced.
According to him, it takes competent hands to manage an economy such as that of Ghana in these times.
Mr Otchere-Darko said the government has not reneged on the payment of any of its statutory obligations.
The Akufo-Addo govt and, in particular, MoF, deserve the nation’s commendation for their handling of the economy in these most challenging times. Despite slump in revenues, bills are being paid, including salaries, roads being fixed, & money found for programmes like YouStart. https://t.co/JibCr7MBIm— Gabby Otchere-Darko (@GabbyDarko) September 22, 2022
He said salaries, and other bills are being paid despite the shortfall in revenue mobilization.
He added that the government is also finding innovative ways to fund programmes like the “YouStart.”
“The Akufo-Addo gov’t and, in particular, MoF, deserve the nation’s commendation for their handling of the economy in these most challenging times.
“Despite the slump in revenues, bills are being paid, including salaries, roads being fixed, & money found for programmes like YouStart,” he said in a tweet on Thursday, September 22.
Ghana’s economy is in distress as it currently has a total public debt stock of GH¢391.9 billion, as of the end of the first quarter of 2022.
The cedi is also the worst-performing African currency and has weakened 22 per cent against the dollar this year.
The latest figures released by the Bank of Ghana put Ghana’s total public debt stock, as of June 2022, at $54.4 billion or ¢393.4 billion.
Also, the country’s annual inflation rate has accelerated for the 15th straight month to 33.9% in August 2022, from 31.7% in July, but below market forecasts of 34.3%.
It was the highest reading since August 2001, even after Ghana’s central bank delivered a record 300bps rate hike during an emergency meeting in August.
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