Tuesday, November 29, 2022
HomePoliticsGhana's Economy Is In Shambolic State -Duffuor

Ghana’s Economy Is In Shambolic State -Duffuor

…Says He Has The Expertise To Propel It To Higher Pedestal

Dr. Kwabena Duffuor, A former Minister of Finance and Economic Planning has described Ghana’s economy as shambolic whilst the citizens of the country lack the basic necessities of life.

He said, ” the economy is in shambles, the youth are unemployed and desperate, and Ghanaians everywhere are going through very difficult times, lacking the most basic necessities of life.

This is not what our Founding Fathers envisaged, this is not where a country with immense blessings and resources like Ghana should be. The time for change is now.”

Speaking at a news conference in Accra to officially announce his intention to contest for the flagbearship of the National Democratic Congress(NDC), he said, he would offer himself once again to serve the land of his birth with great humanity and sacrifice when given the chance to do so.

Dr. Duffuor, a former Governor of the Bank of Ghana, said when he was the Minister of Finance and Economic Planning from 2009 to 2012, the exchange rate which stood at Ghc 1.20- US$ 1.00 at the end of 2008, rose marginally to Ghc 1.80- US$ at the end of 2012.

The economy according to him, registered a Gross Domestic Product growth rate of 14.5% in 2011.

The above-mentioned economic growth, Dr. Duffuor stated, was the highest growth rate in Ghana’s entire economic history.

READ ALSO: Ghana Is Going To Experience More Hardship–Prophet reveals 

He said Ghana emerged as one of the fastest-growing economies in the whole world in the year 2011.

The economy according to him, registered the longest sustained single-digit inflation from June 2010 to December 2012.

With regards to unemployment, the former Bank of Ghana said, the unemployment rate dropped from 5.3% in 2010 to about 2.2% by the end of 2012-13.

Dr. Duffuor said, ” Let us fight to save our ailing economy to the benefit of our children and generation yet unborn.

Let us rescue our economy to end the hardship, pain, and suffering of our fellow citizens. ”

Source: Adovor Nutifafa

dovor100@gmail.com

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