PIED Africa’s chief economist refutes President Mahama’s economic crisis claim, points to recovery
Daniel Amartey-Annin, Chief Economist at PIED Africa, has responded to President Mahama’s State of the Nation address, which described the economy as being in crisis.
He refuted this claim, arguing that the economy is on a recovery path, supported by positive trends in key macroeconomic indicators.
Mr. Amartey-Annin stressed the importance of prompt policy implementation to boost economic growth and ensure the continued momentum of the progress being made.
“From a purely imperfect perspective, I would say this is an economy that is still recovering, then the macro economy, and then indicate that’s actually on the positive side. Inflation as of twenty-two December for 54% and now moving around the 53.8% there about that we have.”
“There are trendy people even though the cost of capital is the highest, particularly in terms of the policy rate hovering around the 28%, inflation is the target of single digit, which means it is not in crisis, so to speak. What we need to do or ought to be done is quickly roll out policy to consolidate against that or the positive thing that we’re showing in the medium term, and they will be able to prepare for growth.”
