Founder and Senior Partner at AB and David Law firm, David Ofosu-Dorte, has advised governments to stop using wrong indicators to measure the development of the country.

Speaking on the Super Morning Show, on what he described as “myths” hampering the development of the country, he stated that one false yardstick governments often play on is the Gross Domestic Product (GDP).

“We believe that simply when our GDP is growing, that means that we are growing,” but this according to him, is not true.

He argued that since GDP includes the amount of money that exits the economy, it doesn’t actually tell you what the indigenes are gaining, therefore, measuring growth based on the GDP does not show the actual growth rate of the country.

“So, much as I would like us to continue using GDP, we need to start measuring GNP and pronouncing it more and more”, he added.

Another myth he said we need to debunk is the contemporary justifications of our non-performance.

“The least stress that occurs in the international community, we want to rely on that as the reason why we cannot do what we are supposed to do.

It will be recalled that President Akufo-Addo, and other government functionaries, have on various occasions, attributed the current economic challenges confronting the nation, amidst the high public debt burdens, to the effects of Covid-19 which had devastated all global economies. They also cited the Russia-Ukraine crisis as having contributed to the current state of affairs.

Dr Ofosu-Dorte, however, believes the country would be better off if we debunked such mindsets and sought proactive ways of addressing pertinent challenges facing the economy.