Economist and Senior Lecturer at the Department of Finance, University of Ghana Business School, Dr. Patrick Asuming has described some revelations from the ongoing National Economic Dialogue as "surprising and shocking."

Speaking in an interview on Joy FM's Middaynews on Monday, March 3, Dr Asuming pointed out that one of the most startling revelations was the extent of the energy sector debt and the alarming rate at which it is projected to continue accumulating.

Additionally, he expressed concern over the financial distress of COCOBOD, noting that both the debt stock and its servicing costs were at levels he found "astonishing."

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He acknowledged that while the general economic challenges were anticipated, the depth of some issues had been striking.

The economist emphasised that the session had largely confirmed the severe difficulties confronting the economy in the short and long term.

“By and large, from my point of view, you mostly expected it. Some of the details are a little surprising and shocking, but in the main, it's always been clear that the economy is in a very difficult situation,” he added.

“I think essentially, he’s been setting the stage and explaining the state of the challenge that the country faces before the actual breakout discussions that will come up with practical solutions,” he noted, referring to Finance Minister Dr Cassiel Ato Forson's presentation.

Read also: ‘We can reset our economy, we just have to be disciplined’ – Ato Forson

Despite these concerns, he stressed the importance of open and honest discussions during the dialogue, urging participants to contribute meaningfully to the process.

“I think the discussion should be very honest, and people should be able to speak freely. The final report should capture the essence of these discussions,” he stated.

Dr. Assuming also underscored the necessity of government commitment to implementing the recommendations that emerge from the dialogue.

"If the discussions only end in a report without action, then there will be no point in having them," he added.