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"Mid-Year Budget Review Cannot Bring An Overnight Success" -Economist

Economist, Professor Godfred Bokpin is calling on Ghanaians to reduce their expectations about the mid-year budget review which yet to be presented by the Finance Minister, Ken Ofori-Atta.

According to him, presenting the budget to Ghanaians would not lead to overnight success adding that there should rather be a need for prudence and sacrifice amidst this pandemic.

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In his view, he said "It is also important for Ghana to continuously create modified strategies in order to make progress. A lot would depend on EIU lauds Ghana over banking cleanup exercise and 1D1F programme"

Professor Bokpin added that the coronavirus is yet to be tamed and for that reason, the situation has become very fluid.

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He also noted that global bodies such as the International Monetary Fund, World Bank, and the United Nations’ Economic Commission have revised their strategies more than three times.

He further explained that it is essential for Ghana to follow the same trend way.

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In relation to the pandemic, he noted that there was no flexibility to implement broad-based policies to transform lives.

Professor Bokpin said "It was earlier reported that the Monetary Policy Committee (MPC) of the Bank of Ghana will begin a three-day session to evaluate Ghana’s economy"

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The meeting is scheduled to start on Wednesday, July 22, and last until Friday, July 24.

In the course of the meeting, the MPC is expected to begin the initiation of proposals for the formulation of the monetary policies.

Story by: Bervelyn Henrietta Allotey


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