Mahama’s economic performance below expectation – Economist

Head of the Economics Department of the University of Ghana, Professor Peter Quartey has rated John Mahama’s two-year economic performance as “below expectation.”

Speaking to Joy News, the Economist cited Ghana’s low economic growth rate as one of the failures of the government.

The government is estimating an economic growth rate of a little over three per cent this year, something the Economist is not impressed about.

He said if government wants to reduce poverty then it has to grow the economy at a rate higher than it is projecting.

That is the only way to solve the unemployment problem in the country, he intimated.

Many government spokespersons have been quick to point to external factors for the country’s poor economic performance, but Prof Peter Quartey said that is no excuse.

He explained Ghana like any other country, is part of the global economy and faces pretty much the same challenges as other countries.

He did not understand why other countries would manage the economic challenges well enough and for Ghana to point to that as an excuse for its poor performance.

“I don’t buy it,” he insisted.

He said if the country is able to address its nagging energy challenges and “spend wisely,” it will be able to solve the challenges facing the local economy.

source : myjoyonline.com