General News of Tuesday, 14 November 2017

Source: adomonline.com

Ghana’s economy suffering 'cerebral palsy' – Allotey Jacobs

The Central Regional Chairman of the opposition National Democratic Congress (NDC) has described as abysmal the New Patriotic Party (NPP) management of the economy with just 11-months in office.

In his view, the economy is suffering from “Cerebral Palsy” [abnormal development of the brain injury which affects body movement, muscle control, muscle coordination, muscle tone, reflex, posture, and balance] which has exacerbated the socio-economic condition of Ghanaians.

The Finance Minister, Ken Ofori-Atta, will on Wednesday, November 14, 2017, present the 2018 Budget and Economic Policy of the government to Parliament.

The budget is, therefore, expected to focus on ensuring macroeconomic stability, transforming agriculture and industry, strengthening social protection and inclusion, building on economic and social infrastructure and reforming public service delivery institutions.

The Finance Minister is expected to announce a number of initiatives towards stimulating economic activities and ultimately ensuring economic growth and the creation of jobs.

Mr. Ofori-Atta, according to sources close to the Ministry of Finance, would also articulate strategies meant to ensure that the private sector led the economic growth and transformation.

But Allotey Jacobs on Adom FM’s Dwaso Nsem Tuesday said the economy has grown from bad to worse.

He said given the incompetent nature in which the economy has been handled the country would face hardships similar to the endemic poverty the country experienced in 1983.

The NDC Central Regional Chairman stated that, Ghana is no more an investment destination due to the high cost of doing business in the country.

The budget, Allotey Jacobs stated has nothing new to change the economic fundamental of the country.