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An Economist and lecturer at the University of Ghana, Dr Patrick Assuming, has said that Ghana’s economy is not yet in a recovery mode, contrary to government’s position that the economy has turned the corner.
He said although the macro-economic environment has seen some relative stability since the second half of 2023, that is not enough to say the economy is recovering, especially when households and businesses which were affected are yet to recover.
“Sometimes, the government wants us to believe we are recovering but we are not on any recovery yet…,” he said.
Commenting on how 2024 will look like in terms of the economy, he said past challenges with the energy sector were beginning to re-emerge and that posed significant risks this year.
“This month, we have seen the problems with electricity beginning to take shape again and this is an additional source of uncertainty coming into 2024. The problem is that there is so much misinformation in an attempt to hide the truth that you really struggle to know what the real issues are,” he said further.
He noted that a well governed country should be able to insulate its citizens from the harmful effect of developments it did has no control over.
