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Ofori-Atta cause of Ghana’s economic woes – Gatsi

The Dean of Cape Coast University Business School, Professor John Gatsi, has blamed Finance Minster Ken-Ofori Atta for the economic challenges the country is currently facing.

According to him, Ken Ofori-Atta’s policies in terms of fiscal mismanagement has created a huge problem for the country including borrowing.

“…He (Ken Ofori-Atta) cannot manage the Ghanaian economy only in 2022, he has been managing the economy since 2017 and cumulatively, his policy in terms of fiscal management has actually created a huge problem for this country. “And that I do not think that he himself is not aware. He is the one who presents the kind of borrowing that we need to do and that borrowing has created problems for the country. Therefore, we cannot blame any other person than the finance minister,” he said. His comments come on the back of tweets by Gabby Otchere Darko with regards to E-Levy and IMF. The leading Member of the ruling New Patriotic Party, Gabby Otchere-Darko, bemoaned the failure of measures put in place by the government to raise revenue for Ghana.

In a series of tweets shared on social media, he has spoken about the current economic hardship in Ghana.

He posits that, despite the huge expectations that birthed the idea of imposing a 1.5% levy on electronic transfers, the government has been able to realise only 10% of its expected revenue from the controversial E-Levy.

“After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues; our revenues remain very low as compared to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar,” he said.

According to him, the 10% revenue generated from the E-Levy translates to an amount, which is less than GH¢60 million out of the GH¢600million that the government expected to realise from the policy since it came into effect on May 1, 2022

But, Professor John Gatsi said the Finance Minister should be blamed for the current economic crisis. “Most of the things he comes to Parliament to present, that is his belief that he has presented to Parliament. So we should hold him to those things rather than extending it to some individuals who have been considered to be of value to the government. But may not be in-charge directly of affairs of this country,” starrfm.com.gh quoted Professor Gatsi as having said.

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