Dr. Samuel Worlanyo-Mensah, a Chartered Economist, has advocated for a preventive strategy in managing Ghana’s economy to promote fiscal discipline and sustainable development.
He highlighted the importance of strengthening key domestic sectors such as agribusiness and pharmaceuticals, which he believes are essential for stabilizing the national currency and controlling inflation.
Dr. Worlanyo-Mensah also praised the president’s efforts to streamline government operations and urged additional reductions in administrative spending to support a more self-sufficient economic model.
“The ecology management team must be more proactive so that we’ll be able to rule out policies and programs that will help us to maintain child discipline and also economic consolidation and also ensure that we achieve some resilience. I believe if you look at it in the approach and the attitude of the US government, this is clearly showing that there is no free lunch anywhere and that in the era where our leaders all kept in their hands begging for food and aid,”
“As we are a team of the past, every economy is now trying to reposition itself to take advantage of the emerging opportunities in the global markets. For a very long time, our leaders have felt the need to develop the domestic economy, being able to improve upon the agribusinesses and agro-possessions, developing the pharmaceutical industry, local technologies, and the petrochemical industry. Once we succeed in doing that, we’ll be able to strengthen the cedi and reduce inflation drastically.”
“Going forward, I think we need a lot of fiscal discipline. Those fiscal discipline, we have seen it discipline from the side of the president who has reduced the size of government, and we are expecting that the cost of government and governance should also reduce,”
Dr. Worlanyo Mensah underscored the necessity of having collective accountability, thereby improving the judiciary system and reforming procurement procedures.
He called for the appointment of selfless leaders rather than political insiders to address corruption and propel national development.
