The Dean of the Business School of the University of Cape Coast, Prof. John Gatsi has dismissed attempts by the Nana Akufo-Addo led administration to blame the bad state of the Ghanaian economy on COVID-19.
This according to him is inaccurate because the economy was in distress before the COVID-19 pandemic emerged.
Prof. Gatsi told Sena Nombo on the Gold Power Drive, that government’s own data captured by the International Monetary Fund (IMF) speaks to the fact that the economy was in distress as at 2019.
He said the situation was so bad government abandoned fiscal responsibility, which placed 6% limit on the budget deficit.
The Finance lecturer said even the data provided in the budget does not add up.
He mentioned the budget deficit and the debt to GDP ratio provided in the budget as two figures that raise more questions than answers.
Government has been beating its chest over what it says is the “better management” of the Ghanaian economy but Prof. Gatsi believes that judgment should be left to Ghanaian.
He said the 1992 Constitution of Ghana defined the economic goals of Ghana and wondered if the “better management” claim would survive the test provided in the economy.