“Our country can meet its development targets in fifteen years through good planning”, this is according to Policy Analyst and Dean of Faculty of Business Administration at the Methodist University College Ghana, Professor Kodwo Ewusi.
Lamenting the fall in Ghana’s Gross Domestic product from 3.9 percent in 2015 to down to 3.5 percent year-on-year in 2016, the Former Director of the Institute of Statistical Social and Economic Research explained that the Nana Addo led NPP administration will require what he described as a sustained rate of growth to fulfil its vision of achieving a double-digit growth for every year of its four-year rule. He made this assertion on Radio Univers’ Big Exclusive Show on Saturday.
“I think that with good planning from now till maybe fifteen years from now we can get there. It will mean that having a sustained economy and sustained rate of growth. What happened was that from 2011, the economy has been decelerating. It has been growing but growing at a lower rate. In 2011 for example, the economy grew at 14.3%, in 2012 it fell to about 8.6%, 2013 it came down to 7.6%, in 2014 it came down to about 3.9% and then in 2016 it was 3.6% so it has been going down”, he said.
Professor Kodwo Ewusi was however optimistic of the economy’s growth, against the backdrop of the apparent improvement in power supply. He projected that by the end of 2017, the economy should see a 7.2 percent rise in GDP if government executes right measures.
“The government has projected that we should get 6.2%. With the dumsor virtually out of the way, I forecast that growth will double from 3.6% to 7.2% in 2017 but after that, the government should plan for double-digit growth that’s above 10%. And that will take us closer and closer to middle income countries. I think this is achievable because if you go to compare with some other country. But I think the optimism and the great projects which the government has announced. All these, I think the government is being modest in saying 6.2%. But I hope that this year 2017, we will see a growth of 7.2% doubling what happened in 2016”, he added.