An economist, Dr Kofi Orleans-Lindsay, has rebutted the assertion by Vice President Mahamudu Bawumia that Ghana’s economy is rising again due to what he attributed to prudent economic policies introduced by the Akufo-Addo led administration.
He argued the lack of cash flows in the system coupled with government’s refusal to spend is accounting for the difficulties in the economy.
Addressing the Ghanaian community in the US as part of his a 5-day working visit to the technology hub of Silicon Valley, Vice President Dr Bawumia claimed that Ghana’s economy was on the rise again thanks to the prudent management by the government.
However, speaking on the Monday edition of the Ghana Dadwen on Onua FM, Dr Orleans-Lindsay said he was not sure of the economic indexes that the Vice President used to make those claims, stating the economy was not doing great as claimed.
“I don’t know the sort of crystal ball that the Vice President is looking at, but for the one that I’m looking at the economy is not doing well at all. The government claims they have reduced taxes and electricity tariffs but the reality on the ground is very different” he said.
Dr Orleans-Lindsay added that although the economy seems to be performing well at face value the reality on the ground depicts a very gloomy picture.
“Interest rate has been stabilised and it continues to be going down. The cedis has also been stabilised, but if you look at our balance of payment it’s not encouraging. We are also not exporting and even domestically, our budget is not in sync with the GDP and so I don’t believe that there is going to be some growth in our GDP as is being predicted by the government”, he said.
He thus advised the government to steer clear of trying to do everything in order to create opportunities for the private individuals to create more employment for the teeming unemployed youth in the country.