Economist Professor Ebo Turkson has asked Vice President Dr. Mahamudu Bawumia to utilize today’s [April 7, 2022] speech on the State of the Economy to reassure Ghanaians and investors on crucial steps taken by the government to resuscitate the economy.
The Vice President is scheduled to speak at a National Tertiary Students Confederacy [TESCON] Training and Orientation Conference in Kasoa, Central Region.
Dr. Bawumia’s speech comes after Finance Minister Ken Ofori-Atta recently proposed stringent fiscal measures aimed at lowering government spending and reviving the economy for the fiscal year 2022.
Professor Turkson, speaking to Joy Business, underlined five major challenges that Dr. Bawumia must address in order to restore trust in the private sector and investment community.
“We have had so many issues in the last three months. We’ve had issues such as the downgrade of Ghana’s economic ratings by the rating agencies, the sharp depreciating of the cedi, and the issue about the approval of the e-levy,” he said.
Professor Turkson noted that there have been several economic issues that have significantly impacted ordinary Ghanaians and companies in recent years, and that outlining the government’s short-term intentions to address these challenges will be welcome news.
According to him, Dr. Bawumia, who is also the Chairman of the Government’s Economic Management Team, should embrace the occasion to restate the government’s efforts to attract additional investors in the midst of economic uncertainty.
“When people call on the Vice President to speak it is in the right direction because he is one of the best economic brains in the country and in government. His speech can send a good signal to Ghanaians and the investment community,” he stressed.
Concerning the economic consequences of COVID-19 and Russia’s invasion of Ukraine, Prof. Turkson emphasized that Dr. Bawumia must indicate how the government intends to weather the storm.
“It is true that COVID 19 and the Russia-Ukraine issues are affecting the world and Ghana is no exception but, I expect him to tell us how the Economic Management Team intends to solve Ghana’s problem to improve the lives of Ghanaians,” he said.
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SOURCE: myjoyonline
