Economist Declares Finance Minister Ken Ofori-Atta As The Cause of Ghana’s Economic Problems

• Ghana's Finance Minister Ken Ofori-Atta has been blamed for the country's economic challenges
• Prof John Gatsi has said the Minister has failed to take prudent decisions, citing the country's appetite for borrowing as evidence
• The Cape Coast University economics professor said the huge borrowing has created a major problem for the country

Economist Professor John Gatsi said Finance Minister Ken Ofori-Atta is the leading cause of Ghana’s economic challenges.

Prof Gatsi said the rate of borrowing by the finance minister remains a significant problem for the country.

“He has been managing the economy since 2017, and cumulatively, his policy in terms of fiscal management has actually created a huge problem for this country.

“And that I do not think that he himself is not aware. He is the one who presents the kind of borrowing that we need to do and that borrowing has created problems for the country. Therefore, we cannot blame any other person than the finance minister,” Prof Gatsi said.

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The Dean of the Cape Coast University Business School made the comments on Monday, June 27, 2022, on Accra-bases Starr FM.

“Most of the things he comes to Parliament to present, that is his belief that he has presented to Parliament. So we should hold him on those things rather than extending it to some individuals who have been considered to be of value to the government,” he added.

Prof. Gatsi further stated that the finance minister must justify to Ghanaians the benefits his borrowing spree has brought to the country.

His comment is on the back of a suggestion by a stalwart of the governing NPP, Gabby Asare Otchere-Darko, Monday that Ghana may have to go to the IMF for financial support because the e-levy has not been able to rake in the expected revenue.

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Gabby Otchere-Darko reveals controversial E-levy delivering only 10% of estimated revenues

YEN.com.gh reported in a previous story that a leading member of the governing New Patriotic Party (NPP) Gabby Otchere-Darko has revealed the controversial E-levy is failing to live up to the revenue expectations of the government.

According to the former boss of the pro-NPP think tank, Danquah Institute, the tax that came into force on May 1, 2022, is delivering only 10% of the target revenue.

In a series of tweets to lament Ghana’s economic challenges, the close confidante and cousin of President Nana Akufo-Addo said confidence in the economy was dwindling.

Source: YEN.com.gh