General News of 2014-05-16

Economic Forum not needed: Ghana's problem is politics - Fiifi Kwetey

Minister of State in charge of Financial and Allied Institutions Fiifi Fiavi Kwetey says the causes of Ghana’s economic challenges are already known to all and so it will be unnecessary trying to engineer new measures to deal with them.

“The real problem of Ghana is not lack of economic management capacity,” he said.

“The problem of Ghana is politics. Politics is what is causing our problem,” he added.

Mr Kwetey, who is also the Member of Parliament for Ketu South Constituency, was speaking with TV3’s Nana Akua Asare on the sidelines of the just-ended 2014 National Economic Forum.

“A lot of the issues are really known already to the public,” he said.

He cited the “rising” and “unsustainable” public sector wage as one widely known to be one of the causes of the economic hiccoughs.

“The reason why we are having a lot of economic challenges is because politicians simply get on platforms and make promises that they cannot keep and when they are forced to keep it, they tend to overspend.”

Though Mr. Kwetey generalized his assertion about politicians, he admitted that the situation in Ghana is worse because of the seeming bi-partisan nature of politics.