Economist and Director of Operations at Dalex Finance, Joe Jackson, has contradicted the Finance Minister, Ken Ofori-Atta‘s assertion that Ghana's economy has successfully turned a corner towards recovery.
Jackson insists that the economy is still in critical condition and likened it to an “Intensive Care Unit,” stressing that the Finance Minister's remarks during the Mid-Year Budget Review in Parliament were misleading.
During his address, Finance Minister Ofori-Atta expressed optimism about the economy's progress and stated that Ghana had “turned the corner,” with positive results emerging from the government's plans and programs.
He anticipated an increase in domestic production and economic activity that could surpass historical records.
However, Joe Jackson, speaking on Citi TV‘s Big Issues, highlighted several ongoing challenges plaguing the economy. He pointed to revenue generation issues, the escalating public debt, and the absence of substantial economic growth that could pave the way for meaningful development in the country.
Jackson asserted that true economic recovery would require addressing these pressing concerns. He stressed the need for the government to curtail unnecessary expenses, reduce the size of the government, streamline bureaucratic structures, and prioritize vital sectors to ensure sustainable financial management.