Prof Patrick Opoku Asuming is an economist
An economist, and Associate Professor at the University of Ghana Business School, Professor Patrick Opoku Asuming, has said the government’s plan is to keep the country’s macro economic environment stable following the tight policies and programs deliberately introduced into the 2026 Budget.
According to him, once ninety five percent (95%) of the policies developed by the government, as contained in the 2026 Budget, are properly implemented, then Ghanaian businesses should be happy.
He added that consistency in the country’s currency stability is one of the fiscal policies that should matter to a lot to businesses nationwide.
“Government could abandon fiscal discipline if the country is out of the IMF programme, but if they can continue with prudence and discipline, then businesses would survive and eventually succeed.
“Policy inconsistency in the country is hindering economic development, hence the fear that stability and fiscal discipline could be thrown out of gear following completion of the International Monetary Fund (IMF) programme and evidence of precedence,” he said in an interview with GhanaWeb.
He also said that unexpected external shocks are the most dangerous economic denominator often pushing away gains made by successive governments.
Aside that, he said the cyclical elections organised in the country every four years can also be blamed as a contributory factor whenever the economy is suffocating.
The inaction against political leaders doing wrong things, he remarked, also affects sustainability of gains being made by the government to improve and grow the economy.
“If there is no consequences, no one will feel obliged doing the right thing,” he added.
Addressing members of Ghana National Chamber of Commerce and Industry (GNCCI) at a National Budget Review Seminar organized by Ghana National Chamber of Commerce and Industry (GNCCI), the economist advised the government against the introduction of panic measures to dilute existing policies and programmes currently working to sustain economic growth and stability.
“In the 2026 Budget procurement processes have been reviewed to guarantee compliance. Government flagship programs such as gas to power, new thermal plant project could boost utility supply. This means government is planning ahead in terms of electricity capacity.
“In agriculture, oil palm program is being introduced and hundred thousand oil palm plantations will developed and will certainly provide opportunities for industry players,” he added.
