Ghana has a hopeful economy – Seth Terkper
The Finance Minister Seth Terkper has assured Ghanaians the economy is on the right course, despite the challenges the West African nation is going through now.
Terkper is optimistic “the next three years” will bring a lot of hope for Ghana since the John Mahama-led administration has put a lot of measures in place to surmount the challenges that bedeviled the country in 2012.
“Every economy will face one problem or the other… the economy suffered four major shocks – broken pipeline in Nigeria so we were not getting gas for two-and-a-half years and that resulted in ‘dumsor’ [erratic power supply] and also the prices of gold, oil and cocoa fell,” the minister told London-based Rainbow Radio.
“The good thing is that the negative indicators did not fall back because of the adjustments that we were doing. So the deficits did not increase or worsen.”
Terkper appealed to Ghanaians not to allow the current challenges overshadow the numerous solutions the ruling National Democratic Congress (NDC) government has put in place to ensure a healthy fiscal calendar.
“Ghana today has cleared all those single spine areas and Ghana today is increasing gas from Nigeria and has completed its own gas processing plant and providing gas to the VRA thermal plants so the situation with power has changed. Ghana today is doing 100,000 barrel of crude oil per day.
“We have put the 2012 problems behind us and we are setting the economy back to its normal course. The IMF could not give us that pass within three months if we were not doing the right thing.
“The next three years is hopeful. The economy is not what it was and if we get the opportunity we should not make the same mistakes again. We must be solution-oriented,” Terkper pointed out.