Economic Recovery: It’s premature to claim victory – Economist tells Ofori-Atta

Following the Minister of Finance, Ken Ofori-Atta's proclamation in parliament during the 2023 mid-year budget review statement that the government has turned the corner in its management of the Ghanaian economy, an economist, Professor Godfred Bokpin has refuted the claim.

According to him, it is too early for the finance minister to claim victory as a lot needs to be done to revive the economy.

The Professor at the University of Ghana Business School while speaking on TV3's The Keypoints programme over the weekend said, “We have seen some signs, seen some relative stability but I think it is premature to claim victory...It is only just half-time, so the second half is also very important.”

“We are looking at it over 12 months, so you cannot say that I have won the match because the first half looks this way and the good way to judge the posture of government is to look at now their perspective for the next six months,” he stated.

The Minister of Finance, Ken Ofori-Atta, on July 31, 2023, highlighted the significant progress his government has made in Ghana’s economy since the decision to go to the International Monetary Fund (IMF) for financial assistance.

Presenting the 2023 mid-year budget review statement before the House, he said, “We have turned the corner and, more importantly, we are determined to continue down that path.”

He entreated Ghanaians to continue to bear with the government as measures have been put in place to stabilize the economy.

ESA/NOQ

Watch the latest edition of BizTech and Biz Headlines below: