An economist Ben Amoah explained that if the NPP fulfilled all of its campaign promises on industrialisation, the economy will be cushioned from most of it current economy challenges.
Amoah explained that if the NPP fulfilled all of its campaign promises on industrialisation then the economy will be cushioned from most of it current economy challenges.
Speaking on TV3 said Amoah said: “It is a good idea if the NPP (implements its) industrialisation policy. The one-district-one-factory policy can produce some of the things that we import so that we can cut our import bill a little bit and save some of the dollars for ourselves so that the central bank can use it to steady the boat whenever the cedi is coming under pressure.”
“It is a good idea if they can [implement the policy]. For instance [they can] impose a policy that will ensure that the remittances or whenever these export companies are bringing in monies, the dollars actually reach Ghana and don’t get diverted somewhere along the way. As long as there is ample supply of dollars, we can be confident that the cedi will remain fairly stable.”
The New Patriotic Party (NPP) during its campaign promised to construct a factory in each district across the country. They also promised to construct one dam in each village in the northern part of Ghana for irrigation purposes.
The Minister of Trade and Industries Alan Kyerematen reiterated these promises and mentioned some measures that will be taken by the Nana Addo-led administration to fulfil these promises.