Ghana's Economy Still In ICU: Economist Joe Jackson Dismisses Ofori-Atta's "Economy Has Turned The Corner"

Ghana's Economy Still In ICU: Economist Joe Jackson Dismisses Ofori-Atta's "Economy Has Turned The Corner"

  • Economist Joe Jackson has said it was false for finance minister Ken Ofori-Atta to say Ghana's economy has turned the corner
  • The Director of Operations at Dalex Finance said if Ghana's economy was a patient, it would be in the Intensive Care Unit of a health facility
  • Joe Jackson's rejection of the minister's claim follows similar critical reactions to the assessment on July 31 contained in the 2023 mid-year budget review

Economist Joe Jackson has rejected finance minister Ken Ofori-Atta's assessment of the economy contained in the 2023 mid-year review.

The minister told Parliament on July 31, 2023, that Ghana's economy is on a path of recovery, stating "we have turned the corner".

However, since that comment in Parliament, the finance minister has faced criticism for what critics believe is an attempt to hoodwink Ghanaians about the state of Ghana's economy.

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Joe Jackson says it was false for the finance minister to claim Ghana's economy has turned the corner.
Ken Ofori-Atta (L) and Joe Jackson. Source: Getty Images and Facebook/@gyakye
Source: UGC

The latest to raise a critical voice against the finance minister's claim is Joe Jackson, Director of Operations at Dalex Finance.

He is convinced the finance minister didn't take into consideration persistent challenges facing the economy like poor revenue generation, the rising public debt, and stalled economic growth when he told Parliament that Ghana was on a path of recovery.

“I would say that 'we have turned the corner' when we've moved to the recovery ward but at this moment this economy is still in the ICU and I think it is a disservice to the people of this country to say that 'we have turned the corner',” he was unimpressed by the attempt to deceive Ghanaians.

The renowned economist made the comment while contributing to discussions on Citi TV's Big Issues on Saturday, August 5, 2023.

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Minority fires Ofori-Atta for saying economy has "turned the corner"

Meanwhile, reported in an earlier story that the finance minister Ken Ofori-Atta said the economy has taken a turn for the better.

After the claim, the Minority in Parliament disagreed with the optimism of the finance minister, saying the economy has worsened.

Ofori-Atta delivered the 2023 Mid-Year Budget Review to Parliament amid an ongoing economic crisis.

Ofori-Atta announces plan to include pension funds in controversial domestic debt exchange

Also, reported that the government said it is negotiating to include pension funds in the controversial domestic debt exchange programme.

Finance Minister Ken Ofori-Atta made the announcement on Monday, July 31, 2023, while presenting the 2023 mid-year budget review.

He also said the DDEP took a toll on banks and other institutions and that the total capital shortfall of the financial sector as of November 2022 stood at about Gh¢23.8 billion.

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BoG accused of illegally writing off GH¢48.4 billion gov't debt without parliamentary approval


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