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Zeqblog Blog of Friday, 6 December 2024
Source: Okine Isaac
The 24-hour economy plan proposed by former President John Mahama has been deemed a “empty” concept by President Nana Addo Dankwa Akufo-Addo.
President Akufo-Addo claims that Mahama’s idea of a 24-hour economy, which he put up as a means of accelerating economic growth, is impractical and unfounded.
Speaking at a public gathering, President Akufo-Addo asked, “Have you ever heard of a government policy that is voluntary?” in an attempt to gauge the viability of such a policy.
He was worried that the 24-hour economic concept was more of a catchphrase than a practical, viable strategy.
Any economic program must be well-defined and vigorously implemented, not merely something that the government encourages people to undertake without any genuine commitment, according to Akufo-Addo.
He made the point that the economy would not benefit from merely advocating for firms to be open twenty-four hours a day without addressing the real obstacles and infrastructure requirements.
“You cannot build an economy based on promises without supporting policies to make it happen,” he said.
President Akufo-Addo underlined that sound and implementable policies that benefit all economic sectors are necessary for any significant economic reform.
This critique is a part of a larger political discussion in Ghana, where the government of Akufo-Addo has been actively engaged in development projects and economic reforms.
In order to boost the nation’s economy and give more possibilities to both businesses and people, President Akufo-Addo has been concentrating on developing important areas including energy, infrastructure, and industrialization.
John Mahama, for his part, has defended his 24-hour economy proposal, claiming that, with the right implementation, it might result in more job creation and economic progress.
President Akufo-Addo’s comments, however, imply that he thinks such plans require more than just well-meaning intentions to be successful.
