An economist, Dr Theo Acheampong has said a GH¢1 trillion economy means nothing when inflation is still in excess of 30 percent.
This comes after the Finance Minister, Ken Ofori-Atta told Parliament that Ghana’s economy under the Akufo-Addo administration is valued at over GH¢1 trillion as against the GHc219.5billion that was inherited from the Mahama administration in 2016.
He said that the government is now focused on maintaining the current economic growth.
Mr Ofori-Atta indicated that, government is determined to ensure the stability of the local currency and disinflation over the medium term.
He assured that the government is poised to “maintain stability and keep growing. and ensure increased growth, currency stability”.
But taking to Twitter, Dr Acheampong said “The Finance Minister should rather be talking about Gross National Income (total GNI or per capita or growth rate) as one of the better macro indicators of our economic prosperity.”
Inflation is currently 35.2% per the figures from the Ghana Statistical Service (GSS).
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Below is his tweet:
A 1 trillion Ghana cedi economy means nothing when inflation is still in excess of 30%. It's actually just $83bn at current exchange rate of USD 1 to GHS12. The finance minister should rather be talking about Gross National Income (total GNI or per capita or growth rate) as one…
— Theo Acheampong, PhD (@mytheoz) November 16, 2023