- Professor Godfred Bokpin, an economist, has noted it is important Ghanaians reduce expectations about the mid-year budget review
- He explained that it would not lead to overnight successes and there is a need for prudence and sacrifice
- In his view, it is also important for Ghana to continuously modify strategies in order to make progress
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An economist, Professor Godfred Bokpin, has called on Ghanaians to minimise their expectations with respect to the mid-year budget review.
According to him, the budget review will not fix Ghana’s economy overnight given the devastating effects of the coronavirus.
He argued that a lot would depend on prudence and sacrifice from all Ghanaians.
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Professor Bokpin went on to say that the coronavirus is yet to be tamed and for that reason, the situation has become very fluid.
Per a report by classfmonline.com, he also noted that global bodies such as the International Monetary Fund, World Bank, and the United Nations’ Economic Commission have revised their strategies more than three times.
In that respect, he went on, it is also essential Ghana follows in the same manner.
Professor Bokpin suggested it is important that Ghanaians reduce expectations so there are no disappointments.
The reason, he said, is because, even before the outbreak of the pandemic, there was no flexibility to implement broad-based policies to transform lives.
YEN.com.gh earlier reported that the Monetary Policy Committee (MPC) of the Bank of Ghana will soon begin a three-day session to evaluate Ghana’s economy.
The meeting is scheduled to start on Wednesday, July 22, and last until Friday, July 24.
In the course of the meeting, the MPC is expected to begin the initiation of proposals for the formulation of the monetary policies.
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Source: Yen Newspaper