Prioritize addressing high cost of food – Prof. Asuming to government

A lecturer at the University of Ghana Business School (UGBS), Professor Patrick Asuming, is urging the new Mahama administration to prioritize the rising cost of food in the market to bring relief to the public.

In an interview on GHOne TV, the economist observed that Ghanaians could not afford to wait for the government to introduce macroeconomic policies to improve the situation.

He emphasized the importance of addressing the high cost of food and food production issues in the early days of the government.

“The people of Ghana are very concerned about rising food prices, and I think it is very important that the government gets straight to work in terms of addressing the challenges with food production.

“The part about macroeconomic stability is that there is an expectation that when the macroeconomic environment is stable, it will promote investment, production, and employment.

“Now that takes a long time from where we are, so we can’t wait when people are hungry,” he noted.

He said the government’s measures aimed at stabilizing the macroeconomic environment must be introduced simultaneously with food production policies.

According to recent data from the Ghana Statistical Service, inflation rose to 23.8% in December 2024, up from 23% the previous month, missing the government’s target.

It is the fourth consecutive month during which inflation has seen a marginal rise.

In his assessment of the economy, Professor Asuming added that the government had to improve the confidence of the business community by ensuring transparency in the tax system and revisiting regressive taxes as it had promised.

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