Professor of Finance and Economics at the University of Ghana, Godfred Bokpin, has reassured Ghanaians that the recent decline in the performance of the cedi is manageable and should not cause panic.
Speaking on the state of the economy, Prof. Bokpin explained that while the contribution of gold to Ghana’s GDP took a dip, there has been stronger growth in retail trade turnover (rTT) and agriculture, which have helped broaden growth. “Yes, the cedi has seen a decline, but the situation is manageable and not a cause for alarm,” he said.
He, however, cautioned that this broadening does not immediately drive structural transformation, which, according to him, takes time to achieve.
Prof. Bokpin highlighted that government’s fiscal strategy from the beginning of the year has created a shift that provides a strong platform for growth. He cited the sharp drop in inflation as a major indicator of progress.
“Inflation decelerated sharply from 23.6% to 11.5% by the end of August. That is good news,” he noted.
Drawing a comparison with 2017, he emphasized that the current pace of deceleration shows deliberate policy direction.
“If you look at the rate of deceleration in 2025 and compare that to what happened in 2017, you can see there’s some science behind this, supported also by the aggressive spreading of the currency,” Prof. Bokpin explained.
Looking ahead, he expressed confidence in government’s ability to meet targets outlined in the upcoming 2026 Budget, urging the public to remain calm.
“I believe government would deliver on the expectations of the 2026 Budget, and so I urge Ghanaians to remain calm,” he assured.
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Source: Deborah Obenewah Kwapong/ATLFMNEWS
