Ghana’s economy is not near full recovery yet – Economist

An Economist, Dr. Adu Owusu Sarkodie has noted that Ghana’s economy does not have the elements of a fully recovered one.

According to him, growth rates have not been sustainable for quite some time but Ghana has not reached that phase yet.

He described the current state of the economy as just a journey.

The economist’s comments come on the back of the government’s assertions that Ghana had “turned the corner” with regard to the economy.

“An economy can be said to have recovered when it has recorded sustained economic growth…Once your economy is expanding and it is able to create jobs, this can be termed as a fully recovered economy and that economy is very strong, until then we would only be talking about the journey,” he was quoted by myjoyonline.com.

Dr. Sarkodie further elaborated on the importance of economic stability whiles stressing the importance of consistency.

“If it is five percent, it should be five per cent for a long time. Investors often look at the sustained rate other than this fluctuation in rate.

“So, it is better to have five per cent sustained for six years or more than having 10 per cent today and two per cent the next time. That doesn’t go well for us, so it should be a sustained rate of increase in economic activity,” he said.

SSD/NOQ