The Bia East constituency MP Hon. Richard Acheampong has called for a strong economy policy that will address the economic challenges confronting the nation.
He was responding to a recent report by the Institute of Statistical, Social and Economic Research (ISSER) of the University of Ghana, Legon which says, 8.4 million Ghanaians could hardly afford GHc 5 daily in 2016 due to weak economic policies, resulting in the lowest record of Gross Domestic Product (GDP).
The breakdown of the research work by ISSER said whereas 6.4 million could not afford GHc3 daily, two million could hardly make GHc2 to live on, and this ISSER said, did not tell the real story Ghana had attained the middle income status.
Commenting on the work by ISSER, the ,MP and member of the Finance Committee in Parliament, commended the institute and called for an action to address these findings.
He described the findings as a good one and said, ‘’this shows that we have a lot work to do.’’
Hon. Acheampong said, we have a lot of things to do in improving the lives of our people and I believe this work can inform policy makers to tailor their economic policies to targeted people.
Economic policies of government he indicated should benefit Ghanaians and in giving an example, he said, the free senior high school should have targeted extremely poor people instead of the wholesale way we have implemented it, he told Kwame Tutu on Rainbow Radio 87.5Fm.
He also quizzed the economic situation of Ghanaians and whether these conditions have improved or worsened if previous and similar research works in previous years, are compared to the 2016 research work.
ISSER’s report also indicated that an abysmal GDP growth of 3.7 percent in 2016 from a record high of 14 percent in 2011 and the severity of the GDP in 2016 resulted in severe joblessness, inequality and high poverty in Ghana.
Ghana’s economy performed below its 4.1 percent growth target due to decline in tax revenues, which was in turn driven largely by direct taxes and that defeated the main policy objective for 2016.