{"id":63274,"date":"2023-12-27T17:20:16","date_gmt":"2023-12-27T17:20:16","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=63274"},"modified":"2023-12-27T17:02:37","modified_gmt":"2023-12-27T17:02:37","slug":"reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi","title":{"rendered":"Reduced inflation from 54% to 26% does not mean economy is rebounding \u2013 Gatsi"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Dean of the University of Cape Coast (UCC) Business School, Professor John Gatsi, has said that there is more to a rebounding economy than reduction in inflation.<\/b><\/p>\n

According to him, other indices such as policy rate and a stronger exchange rate are equally important.<\/p>\n

\u201cWhen we say an economy has been messed up, and to correct that economy, it doesn\u2019t take inflation reducing from 54% to 26% to indicate that things are better. When policy rate has increased from 14% to 30%. You don\u2019t just look at headline inflation falling to 26% to think that you have solved the problem of the country when hardship, unemployment and poverty have doubled.<\/p>\n

\u201cYou do not just say that because exchange rate has stabilised at the highest level from about GHC6.00 last year to about GHC12.00. So, if it\u2019s stable around GHC12, you don\u2019t use that to tell Ghanaians that things are better for them and things would be better in 2026. So, the reality is different from what the President is talking about,\u201d the Finance lecturer told Martin Asiedu Dartey on December 25.<\/p>\n

He was reacting to an assertion by President Nana Addo Dankwa Akufo-Addo in his Christmas message that Ghana\u2019s economy is rebounding.<\/p>\n

Akufo-Addo\u2019s message of economic rebound \u2018not the reality\u2019 \u2013 Prof. Gatsi<\/p>\n

The President, in his Christmas address to the nation had said Ghana\u2019s relatively stable exchange rate with a drop in inflation is an indication that the economy was bouncing back.<\/p>\n

\u201cFellow Ghanaians, I am particulary glad that our nation has turned the corner following three difficult years, we and indeed, the world have faced. Inflation is being reigned in, we are experiencing a relatively stable exchange rate, and growth in our economy is rebounding.<\/p>\n

\u201cWe continue to attract investments, domestic and foreign, reinforcing our position as the gateway to Africa and we remain a beacon of democracy, peace and stability in Africa. The country is not yet completey out of the woods, but there is a growing confidence that with hard work and determination, Ghana will make it and collectively, we will secure our future,\u201d he said in his statement.<\/p>\n

President Akufo-Addo continued that, \u201cI remain committed to the mandate you freely gave me. I will use the last year of my stay in office, to do all in my power to continue to help create a free and prosperous nation of opportunities where every Ghanaian child, no matter the circumstances of his or her birth, has a fair chance to strive for a happy and dignified life and realise his or her aspirations.\u201d<\/p>\n

But the Professor of Finance and Economics said the President made that assertion because he needed to provide some assurance to the citizens as a Christmas message.<\/p>\n

\u201cHe is giving a Christmas message, so he is only talking to just assure people. So what he is saying is not the reality,\u201d Prof Gatsi stressed.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The Dean of the University of Cape Coast (UCC) Business School, Professor John Gatsi, has said that there is more to a rebounding economy than reduction in inflation. According to him, other indices such as policy rate and a stronger exchange rate are equally important. \u201cWhen we say an economy has been […]<\/p>\n","protected":false},"author":84,"featured_media":63272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[5092,5096,429],"class_list":["post-63274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nReduced inflation from 54% to 26% does not mean economy is rebounding \u2013 Gatsi - Ghana<\/title>\n<meta name=\"description\" content=\"The Dean of the University of Cape Coast (UCC) Business School, Professor John Gatsi, has said that there is more to ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reduced inflation from 54% to 26% does not mean economy is rebounding \u2013 Gatsi\" \/>\n<meta property=\"og:description\" content=\"The Dean of the University of Cape Coast (UCC) Business School, Professor John Gatsi, has said that there is more to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-27T17:20:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/12\/sm_1703683880.389409.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Reduced inflation from 54% to 26% does not mean economy is rebounding \u2013 Gatsi\",\"datePublished\":\"2023-12-27T17:20:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi\"},\"wordCount\":504,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/12\/sm_1703683880.389409.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/reduced-inflation-from-54-to-26-does-not-mean-economy-is-rebounding-gatsi\",\"name\":\"Reduced inflation from 54% to 26% does not mean economy is rebounding \u2013 Gatsi - 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