The Real Reasons Ghana Is Struggling Economically – Prof. Charles Ackah on Point of View
#PointOfView #CharlesAckah #GhanaEconomy #EconomicTransformation #ChannelOneTV
Research Fellow at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Charles Ackah, has outlined what he describes as the major factors behind Ghana's slow economic transformation.
Speaking on Point of View with Bernard Avle, Prof. Ackah argued that Ghana's challenges go beyond fiscal deficits, highlighting deeper structural deficits affecting productivity, competitiveness and living standards.
He identified key issues including weak ethics and accountability systems, corruption, a dysfunctional political system, inadequate government investment and limited support for productive sectors.
Prof. Ackah explained that Ghana's public investment levels have remained low compared to countries such as South Korea and Malaysia, which used sustained infrastructure and industrial investment to accelerate economic growth.
He argued that government does not spend enough on critical development enablers such as roads, railways, infrastructure and other investments that make businesses and citizens more productive.
The ISSER Research Fellow also discussed the role of the private sector, explaining that private investment is closely linked to government investment and the overall economic environment.
On monetary policy, Prof. Ackah said the Bank of Ghana has been too conservative, arguing that central banks in some successful economies have played a more active role in supporting development while maintaining safeguards.
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