Desist from political rhetoric, focus on facts – politicians cautioned

Dr Eric Osei-Assibey, an Associate Professor of Economics has cautioned politicians to focus on the facts for their economic choices and desist from political rhetoric following varied political verdicts on the state of the economy. 

He explained that it should be obvious to even the disinterested observer that the facts of the economy pointed to a state of macroeconomic recovery, a situation the International Monetary Fund (IMF) had attested to.

“I as an economist will always look at the facts, I look at the evidence, and I look at numbers to actually pass judgment on an economy because politicians will always have their way and their say,” he noted.

Dr Osei-Assibey’s caution sought to settle the citizenry who might have been unsettled by the trading of accusations by senior members of both the New Patriotic Party (NPP) and the National Democratic Congress (NDC). 

“Ghanaians should let the facts decide, the economy grew 8.1per cent in 2017, non-oil growth increased from 4.6 per cent in 2016 to 5.8 per cent in 2018 and Agriculture grew by 6.8 per cent by 2018, the facts points to recovery of the economy.

“There is no doubt that the economy is recovering from a very difficult situation, we had to go to the IMF because of some difficulties we experienced over the last four to five years, there seems to be some turnaround on macroeconomic front.

“But more than a fixation on the macroeconomic indicators, policymakers must pay attention to microeconomic indicators since those affect the lives of the ordinary people directly.

“You must also look at the microeconomics and see the extent to which there is development because at the end of the day that is what matters to the ordinary Ghanaian.

“I am excited about the growth in the agriculture sector since it affects ordinary people but the full effect of such growth can be felt if it is sustained over a long period of time,” Dr Osei-Assibey noted.

Following a distressed economy, Ghana entered into an IMF Programme in 2014, after five years, it exited last Tuesday and Vice President Dr Mahammudu Bawumia indicated that Ghana went to the IMF because of bad management of the economy by the government of the NDC.

But that has been disputed by Mr Isaac Adongo, Member of Parliament for Bolgatanga Central, who insists that the economy is on life support propped by excessive borrowing.


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