A Senior Research Fellow at the University of Ghana, Dr George Domfeh says the country’s economy has not collapsed.
According to him, it is a fact that the Ghanaian economy is not collapsed, saying people should believe it when the Vice President says that.
His comments comes prior to the Vice President’s speech about the Economy today, Thursday, April 7, 2022 at TESCON.
Dr Mahamudu Bawumia is expected to speak on the economic state of the country later today.
Following the continuous price hikes on fuel and commodities and the depreciation of the cedi, there have been calls for Dr Bawumia as the leader of the Economic Management Team to address the issues publicly.
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Speaking on Atinka TV‘s morning show, Ghana Nie with Ekourba Gyasi Simpremu, Dr George Domfeh said the people can only call the economy collapsed if they are unable to work and make money for themselves.
“I know Dr Bawumia is coming to say the Ghanaian economy has not collapsed. You do not need him to even say it before you believe it and you do not need an IMF or World Bank to come and tell you, it is a fact that the Ghanaian economy has not collapsed,” he said.
Dr George Domfeh explained that, “When we say that an economy is collapsed, it means that many people cannot work and because a lot cannot go to market to work, the growth becomes negative. Even if the growth becomes negative it is once a while, it does not mean the economy has collapsed unless it continues for sometime.”
He further said, “When you look at the Ghanaian economy from 1981, 1982, 1983 we had negative; at that time, a lot of things happened; there was hunger and nothing could be done about the economy, even with that, you could not say the economy had collapsed because it happened for four years.
Ghana| Atinkaonline.com| Porcia Oforiwaa Ofori
