Pulse.com.gh logo
Go


Ghana's Economy Single digit inflation not possible - IFS boss

President Mahama at the campaign launch of the National Democratic Congress (NDC) last Sunday noted that the country will come out of the IMF programme with a robust economy including achieving a single digit inflation.

  • Published:
Professor Newman Kusi play

Professor Newman Kusi

The Executive Director of the Institute of Fiscal Studies (IFS), Professor Newman Kusi, says it is not possible for the country to come out of the International Monetary Fund (IMF) programme with a single digit inflation.

Ghana in 2015 reached a three-year $918 million financial package with the IMF to support a reform programme aimed at faster growth and job creation while protecting social spending.

The reform programme also aimed at tighter fiscal discipline, stronger public finances and lower inflation.

President Mahama at the campaign launch of the National Democratic Congress (NDC) last Sunday noted that the country will come out of the IMF programme with a robust economy including achieving a single digit inflation.

He said:“We’ll come out of the IMF programme with inflation at single digit, a deficit of GDP [Gross Domestic Product] below 3 percent and debt to GDP [ratio] below 60 percent, a stable currency and significantly lower interest rate.”

READ MORE

However, in a newspaper interview, Prof. Kusi said the president’s prediction is not feasible, quizzing how the Mahama-led administration is going to achieve the single digit inflation.

“With inflation at 16.7 percent, how is the president going to bring it down within 10 percent by next year, through what means,” he told the Daily Guide newspaper.

“From the way things are going, I don’t see inflation coming down to single digit,” he added.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Breaking Otabil finally breaks silence on banking controversiesbullet
2 Capital Bank Collapse Here are the roles of a non-executive board chairbullet
3 Bank Collapse Capital Bank Board misused GHC 610 million from BoG –...bullet
4 IMANI Boss Otabil may have been ‘misled’ in Capital Bank collapse...bullet
5 Investment banks in Ghana Top 5 investment banks in Ghana and...bullet
6 Banks Collapse Accounts of defunct Royal Bank managers frozenbullet
7 IMANI Boss Attacking Otabil over Capital Bank collapse...bullet
8 Collapse Bank Here’s what former staffs of Capital Bank...bullet
9 Banking Issues "Collapsed banks didn't fail; they were...bullet
10 Collapsed Bank It’s ‘incorrect’ to implicate me in...bullet

Top Videos

1 Former Capital Bank staff grills pork for survivalbullet
2 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 Money Alert Meet Africa's richest womanbullet
5 Plane Crash Starbow suspends operations following plane crashbullet
6 Support Finance minister buys Kantanka carbullet
7 Tech 6 reasons you should buy an iPhone SE instead of any of...bullet
8 Dr Joseph Siaw Agyepong Nobody can collapse my company –...bullet
9 New Phones Nokia MWC 2018 Event in 5 minutesbullet
10 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet

Business