Govt announced measures will rather worsen the plight of Ghanaians, increase the cost of living-Economist

International Economist, international relations expert, sociologist, and lecturer Dr. Julius Kattah has predicted the worst economic hardship to be experienced by Ghanaians despite the measures announced by Finance Minister Ken Ofori-Atta on Thursday.

The economist says the measures announced by the Minister were not sound and will not address the current economic challenges we are faced with.

Speaking on Nyankonton Mu Nsem on Rainbow Radio 87.5Fm, he said Ghanaians must tighten their belts and prepare for more hardship.

He said “Ghanaians are going to experience an increase in the cost of living. We have to tighten our belts because the government did not present any sound economic policies to address the challenges we are facing today.”

The Finance Minister among other things placed a moratorium on the importation of vehicles, foreign travels except for statutory travels.

He also announced 50% cuts in fuel coupons for all political appointees, a 50% cut in the cost for conferences, meetings by all government institutions among others.

But Dr. Kattah says “the measures announced are not solid economic measures that will help us address our economic woes. Ghana is facing a serious crisis and the measures will not resolve the crisis”.

He wondered why the government failed to place a moratorium on new loans adding, the loans we have contracted are a lot and creating serious challenges for us. Experts have advised the government to cut down on new loans and reframe our old loans.

He accused the government of massaging figures and deceiving investors.

He stressed “the new measures will increase the cost of living. It will raise the standard of living so high. Ghanaians would have to tighten their belts”.

He wants the government to extend its solutions by inviting external experts to help it resolve the economic crisis.

He further asked the Finance Minister to project the realities regarding the state of the economy and Ghana’s finances and stop massaging the figures.

By: Rashid Obodai Provencal Rainbowradioonline.com/Ghana

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