Former Member of Parliament for Ketu South, Hon. Fiifi Fiavi Kwetey has described the current state of Ghana’s economy as a “junk economy”.
In an exclusive interview with Samuel Eshun on the Happy Morning Show, Hon. Fiifi Kwetey opined that the country’s economy is constantly being downgraded and for him, that is a red flag sign of a collapsing economy.
According to him, majority of Ghanaians and international investors are gradually losing confidence in Ghana’s economy with little or no room for the growth of small businesses.
“It is a very sad situation that we find ourselves in. I’ll say this is an economy that is really in its knees. Virtually in a weekly basis this is economy is being downgraded and when you reach this stage as far as international investors are concerned, our economy is now what you’d describe as a junk economy. It means nobody and absolutely nobody has confidence in us. That is terrible and very dangerous for people not to have confidence in the country. Come down to the economy itself you can see what is going on. The Cedi has been virtually in a state of collapse, inflation and I don’t know the last time this country had inflation in the levels we are experiencing. Naturally that brings hardships to people. Prices of goods are up in a daily basis, business are effectively on their knees and among other tortures,” he said.
The National Democratic Congress (NDC) General Secretary Aspirant reiterated the increasing rate of hopelessness among the Ghanaian youth.
He further admonished the current New Patriotic Party administration to be competent and portray compassionate leadership in hopes of rescuing the Ghanaian economy.
“We’re already talking about a country we’re the youth are losing hope. There’s so much desperations and hopelessness. So that’s actually what we call weeping and gnashing if teeth. If it continues at this rate, you can only feel sad,” he added.
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