General News of Thursday, 24 March 2022
Source: www.ghanaweb.live
2022-03-24Stop blaming external factors for economic woes - Kwesi Pratt slams government
Kwesi Pratt Jnr is The Managing Editor of the Insight newspaper
Ghanaians lament rising cost of living
Government blames Russia-Ukraine crisis, Covid-19 for economic challenges
Ken Ofori-Atta to speak on government's plan to deal with economic downturn
Managing Editor of the Insight newspaper, Kwesi Pratt Jnr, has criticized the government over its management of the economy.
According to him, the economy is in crisis and ought
Read full articleto be blamed on the current administration which is at the helm of affairs.
Speaking on Good Morning Ghana show on Accra-based Metro TV, the veteran journalist said one of the factors that has contributed to the economic downturn is the inability of the country to generate “enough resources for our survival”.
He stated that the situation is also the result of overborrowing by the government, adding that the economy was still not independent of external factors.
Kwesi Pratt also dismissed assertions that external factors were to blame for the “economic mess.” Government have routinely cited COVID-19 and more recently the Russia-Ukraine crisis for some of the difficulties.
“In the discussion of the problem that has bedeviled the national economy, some of us have tended to overemphasize [on] external factors. These external factors have always been there.
“They are the and will be there. It is not sufficient to blame external factors. What we want to see is the extent to which the governance that we elect are able to initiate and implement policies which will mitigate those external factors. Just coming to tell us there are external factors doesn’t quite resolve the problem,” he said.
The economy in recent times has witnessed a downward spiral.
Many economists have cited the depreciating Cedi, increase in fuel prices and general cost of living as pointers to this claim.
Some analysts have asked the government to seek an IMF bailout programme, however, government has shot down the proposal whiles banking its hopes on the E-Levy.
The President, Nana Addo Dankwa Akufo-Addo, over the weekend held quarterly cabinet retreat at the Peduase Lodge to decide on ways to mitigate the current economic challenges.
Meanwhile, Finance Minister, Ken Ofori-Atta is expected to brief the nation on Thursday March 24, 2022 on the outcome of the meeting.
