5% National Growth Rate Cannot Eliminate Poverty

Ghana?s current economic growth rate of five per cent cannot eliminate widespread poverty or ensure sustainable national development. That is the view of a development economist Ernest Ayittey.

Prof. Aryeetey, Director of the Institute of Social, Statistical and Economic Research of the University of Ghana, Legon, says achieving national growth requires macro reforms, circumspection and economic common sense which requires that government should cuts down on its expenditure.

Contributing to a symposium on "Promoting economic growth through industrial peace," at the 54th New Year School underway at the University of Ghana, Legon. Prof.Aryeetey said although Ghana had recorded significant economic growth rates during the last four decades, these could not be sustained because state institution he calls weak could not implement economic policies without zeroing in on the specifics.