Kyerematen: Two Years of Growth Do Not Indicate Stability in Ghana — MyJoyOnline
United Party founder and leader Alan Kyerematen said in Ghana that two years of improving macroeconomic indicators do not yet mean that sustainable economic stability has been achieved. He said this in an interview with Channel One TV, MyJoyOnline reports.
Sustained growth is needed
Kyerematen acknowledged that recent changes in key economic indicators are positive. At the same time, he cautioned governments against premature declarations of economic success and stressed that not only improvement in indicators, but also their duration, is important.
According to him, the administrations of both the National Democratic Congress (NDC) and the New Patriotic Party (NPP) are too quick to celebrate their own achievements, without paying sufficient attention to whether such results can be maintained over a long period.
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A decade as a benchmark
The politician called the current economic growth rate of 6% positive, but believes that the country needs ten years of annual growth within the range of 8–10% to assess the resilience of its economy.
Kyerematen also said that stabilization and economic growth should not be set against each other. In his view, the government must work on both areas simultaneously to ensure sustainable economic progress.
