Economist and chartered accountant, Dr. Samson Anomah, has voiced significant reservations regarding the current government’s overall economic performance.
Dr. Anomah acknowledged that the administration started promisingly between January and March this year, but stated that its subsequent performance has fallen below par.
He indicated he would have initially rated the government’s first-quarter performance at 70 per cent, a figure that has since dropped to 40 per cent based on current economic indicators.
Speaking in an interview on Nyankonton Mu Nsem on Rainbow Radio 87.5FM, Dr. Anomah asserted that, economically, there has been no substantive change from the state inherited from the previous administration.
“The summary of the performance is that nothing has changed. The government has merely recalibrated,” Dr. Anomah explained. “The economy left in early 2025 is fundamentally the same. General production shows, for example, that while farmers achieved good yields, they struggled to find buyers. This has created difficult times for the farmers, making resource mobilisation for the next season questionable. Even when buyers are secured, the harvests are not purchased at viable prices.”
He further noted that manufacturers have also reduced production volumes in response to the government’s economic recalibration efforts.
This situation, he contended, has led to an astronomical increase in the sensitivity of people to pricing.
Dr Anomah criticised the government’s strategy of forcefully driving down the inflation rate, which he argues has inadvertently curtailed productivity.
He conceded that this outcome is not surprising, suggesting it aligns with the government’s first-year optics: achieving favorable records in key economic indicators—such as inflation rates and exchange rates—to facilitate easier loan acquisition in the coming year.
“But in reality, we have not seen any tangible impact on the lives of the people,” he stressed. “A clear example is that inflation has reportedly reduced to as low as six percent, yet when the government chose to increase the cost of essential services for production, they did so far above the stated inflation rate. What informed that increase? This suggests production costs are high, directly feeding into the ultimate cost of goods and services.”
The lecturer argued that an economy boasting a reducing dollar rate and single-digit inflation is meaningless if those gains are not reflected in the citizens’ daily lives.
He cited the a reduction in remittances, which he said is negatively affecting business activities, particularly among artisans who depend on projects commissioned by Ghanaians living abroad.
He underscored that remittances constitute a significant portion of Ghana’s Gross Domestic Product (GDP) and are a vital source of national income.
The economist strongly advised the government to cease suppressing economic indicators and instead pursue a balanced approach, warning that continued suppression could lead to an “explosion of the economy” that would undermine all recent gains.
“What they are doing is serious contraction, serious compression,” he cautioned. “If we are not careful, and things explode, we may not be able to withstand the negative effects.”
Dr Anomah concluded by urging the government to refrain from intimidating critics, allowing them to freely express their views on the administration’s performance and propose constructive suggestions for achieving long-term national sustainability.
“They should allow the country to be itself and tell the truth. If we are pumping in more resources to compete with the dollar, and we lack sufficient resources for other essential things, we must immediately stop,” he stated. “They must balance things well, or else things may explode. If you continue to suppress the figures, you will later have difficulty dealing with the effects.”
Source: Rainbow Online
