Economic policy think-tank Institute of Fiscal Studies says weak financial management by government has led to the current economic challenges.
“Ghana is in a sad situation of economic management, because government doesn’t have the financial discipline on the economy,” Executive Director of the IFS, Prof. Newman Kwadwo Kusi told Fiifi Banson on Anopa Kasapa on Kasapa 102.3 FM Monday.
According to him, the country’s soaring public debt issue has consequently stoked fear, adding government’s hope for a makeover won’t be achieved if the tot cause of the problem is not addressed.
The Economist has predicted that the wobbling economy which has seen a wave of fiscal mess from a growth rate of 14.4 % in 2011 to 4% in 2014 can only get better with a record margin of 4.5 percent.
Ghana’s economy is expected to slow down for the fourth consecutive year to an estimated 3.9% growth rate in 2015, owing to a severe energy crisis, unsustainable domestic, external debt burdens, and deteriorated macroeconomic and financial imbalances, officials say.
By: Kasapafmonline.com/Ghana
