Dean of the University of Cape Coast Business School (UCCBS), Professor John Gatsi, has cast doubt on Finance Minister Ken Ofori-Atta’s understanding of the economy he manages.
This revelation follows the Finance Minister’s recent statement asserting that the decline in inflation figures indicates Ghana’s economic recovery.
During an interview on the Morning Starr with Francis Abban, Professor Gatsi highlighted that the root causes of the economic challenges in the country remain unaddressed.
He questioned the Finance Minister’s optimism, stating, “The Finance Minister, when he was presenting his economic indicators, will want to compare it to about 10 years ago, about 15 years ago. Why are we turning the corner just because we are comparing inflation figures, which are not responsive to policy rate and not responsive to the cost of doing business in the country?”
Professor Gatsi emphasized that key issues such as corruption, unemployment, and a high cost of doing business persist, with no significant improvements.
He expressed skepticism about attributing the supposed economic turnaround solely to declining inflation figures, which he argued do not reflect the challenges faced by businesses and the actual policy effectiveness.
He concluded by remarking, “Our problem is corruption, unemployment, and people selling jobs at the government departments, which people are saying all around. So I wonder how somebody will just look at the inflation figures and then say that we have turned the corner. It means that person doesn’t appreciate the economy he is managing.”