An economist, Dr Theo Acheampong has said a GH¢1 trillion Gross Domestic Product (GDP) is meaningless in economics.
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.
Reacting to this in a Twitter post, he noted that this shows the managers of the Ghana’s economy do not understand basic macroeconomics.
“I feel that our market women understand better economics than our leaders,” he tweeted.
Meanwhile, Mr Ofori-Atta said that the government is now focused on maintaining the current economic growth.
He indicated that, government is determined to ensure the stability of the local currency and disinflation over the medium term.
The Finance Minister also assured that, the government is poised to “maintain stability and keep growing. and ensure increased growth, currency stability”.
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Below is the tweet:
GHS1 trillion GDP in nominal terms is MEANINGLESS in economics. It appears to show that the managers of the economy do not understand basic macroeconomics. I feel that our market women understand better economics than our leaders. If GHS1 trillion, is a "mere projection" as my…
— Theo Acheampong, PhD (@mytheoz) November 18, 2023