Economist, Dr. Evans Nunoo, has emphasized the need for the government to prioritize its monetary strategy to achieve a sustained economic stability.
According to him, the government’s fiscal and monetary policies drive the achievement of low inflation.
Dr. Nunoo’s recommendation comes on the heels of President Mahama’s 120-day social contract, where he touted achievements by his government in improving the country’s economy.
He however noted that while the government is yet to fulfill some of the promises, the overall economic outlook remains encouraging.
“So far, so good. If you look at all the indicators like the inflation rate, the stability of the cedis, things are looking positive. If the government continues this way, we will see sustained economic growth,” he said.
Dr. Nunoo acknowledged that not all promises in the President’s 120-day social contract could be immediately fulfilled.
“Some policies will take time to materialize. Others can be implemented quickly, but something like the 24-hour economy, for instance, requires security measures and an enabling environment. You can’t rush it, it has to be properly structured,” he emphasized.
The economist also emphasized the importance of creating jobs through private sector growth to tackle unemployment.
“The government should find a way to make sure the private sector thrives, by creating jobs so that unemployment can be solved,” he concluded.