Mahama can’t transform economy in 12 months – Economist
Economist Dr. Godfred Bokpin is pessimistic President Mahama’s assurance that Ghana’s economy will be turned around in 2015.
According to Dr. Bokpin, 12 months is just not enough to turn the fortunes of the economy around.
President Mahama in his New Year message to the country promised a transformational year which will see a positive change in the economy.
However, speaking in an interview with Citi News, Dr. Bokpin said the President’s assurance will not see the light of day since the reality on the ground does not support his claims.
“We have heard those statements, promises and commitments a number of times, but we have missed them so it is very difficult to say that yes, this year will be a major turn around,” he stated.
According to him, government has not put in place the necessary structural reforms to ensure a transformation in the economy.
“I do not see a major or significant turn around in the economy this year because… the fundamentals are not right, the kind of structural adjustment, realignment that we needed to do, 12 months is too short for such a thing to take place,” Bokpin stated.
In 2014, government faced intense criticism due to various economic challenges such as the huge budget deficit, high inflation rate among others.
President Mahama, however, in his new year message to Ghanaians, revealed that he will take measures to resolve those challenges.
He stated among other things that the inconsistent power supply among others will soon end, but some stakeholders in the country are pessimistic his prediction will become a reality.
Energy think-tank African Center for Energy Policy (ACEP) also cast doubts over President John Mahama’s promise to“banish” the erratic power supply in the country, describing it as a “wet dream.”
According to ACEP, the needed capital and infrastructural developments have not been put in place to ensure that the Presidents assurances would see the light of day.