Economist Paul Frimpong has reacted to a report by Fitch Solutions that hints that Ghana’s economy is expected to become the fastest growing in sub-Saharan Africa this year.
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The Economist noted that while this positive finding may not reflect the standard of living of Ghanaians and cost of living, this report must be celebrated as it creates the avenue for foreign investors to invest in the country.
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He shared on the ‘Epa Hoa Daben’ with host Don Prah, “The findings do not necessarily have to reflect on the pocket of the ordinary citizen. It could be that a foreign investor wants to invest in the sub region. Based on this information, the investor can decide on where to invest their money. So, this data or findings rather attract investors “.
The economist added that an advantage of these findings even though it may not reflect the pockets of the citizens, can embolden the government of the day to “to do more to grow our economy so that in the long term it will reflect in the pocket of your populace”.
Ghana’s economy is expected to become the fastest growing in sub-Saharan Africa this year, Fitch Solutions has said.
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It is projecting a 4.8% expansion in the economy, consistent with that of the International Monetary Fund, Moody’s and Standard Bank, but in sharp contrast with the World Bank, which is forecasting a modest 1.4% Gross Domestic Product (GDP) growth rate.
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In its assessment of economies in Sub-Saharan Africa, Fitch Solutions said Ghana’s economy will grow strongly because of a healthy rebound in private consumption and exports.
