By Benjamin Nii Nai Anyetei
President of the Accountability Forum, Kwame Owusu-Danso Esq, has rejected suggestions that recent macroeconomic gains should primarily be credited to the previous administration.
Speaking on Current Agenda at Ghana Broadcasting Corporation, Mr. Owusu-Danso said while every administration inherits both assets and liabilities, economic recovery depends largely on current policy decisions.
He argued that Ghana’s economy had recorded significant imbalances prior to the turnaround, including high inflation, currency depreciation and fiscal deficits.
Official data shows that Ghana’s public debt-to-GDP ratio exceeded 90 percent during the height of the crisis period, while inflation rose above 50 percent in 2022. The country subsequently entered an IMF-supported programme aimed at restoring macroeconomic stability through fiscal consolidation and debt restructuring.
Mr. Owusu-Danso said the current gains including the reported 2.6 percent primary surplus, demonstrate improved fiscal discipline. He emphasised that fiscal consolidation involves prudent debt management, controlled government spending, and coordinated monetary policy between the Ministry of Finance and the Bank of Ghana.
He added that reduced public spending and tighter financial controls have helped stabilise key indicators, though he acknowledged that economic recovery remains gradual.
According to him, while previous governments may have laid certain foundations, current macroeconomic performance should be assessed based on present policy implementation and measurable economic outcomes.
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Source:
www.gbcghanaonline.com
