Chartered Economist, Gideon Amissah has waded into the debate over whether or not the government should put the country on lockdown following the continuous surge in confirmed coronavirus cases.
Speaking Friday on the Happy Morning Show (HMS) with Samuel Eshun, Mr. Amissah, weighed in on the possible impact such a decision would have on the economy and suggested Ghanaians are told what the repercussion will be.
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This is, because, the country currently does not have the fiscal space and would, therefore based on our development we have to resort to borrowing to support the economy, he said.
President Nana Akufo-Addo earlier at a meeting with the leadership of the Trades Union Congress (TUC) on Thursday, said government is not considering a lockdown currently because of the implications it will have on many people and the economy at large.
“If you lockdown Accra, what are the consequences? If we lockdown the country, what are the consequences? A responsible government is required to look at all this before decisions are made and that is the exercise on which we are currently engaged,” the president argued.
Commenting on the issue, the Charted Economist Minister noted that “It’ll be difficult for me to support a lockdown. It means the whole economy will come to a standstill. Our development doesn’t support a lockdown as we do things as a community.”
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Also commenting on the surge of price of goods in the country Mr Amissah said “Rational consumers will now be looking for cheaper products. So if you raise your prices, you’re pushing consumers to your competitor whose goods are cheaper.”
Meanwhile, the Finance Minister, Ken Ofori-Atta, is expected in Parliament on Friday, March 27, to defend a stimulus package the government has put together to support businesses and others.