Economy is Progressing – Yamson

Chairman of Ishmael Yamson and Associates, Dr Ishmael Yamson, has advised government not to be complacent with the relative macro-economic stability of the country.

According to him, although inflation and policy rates have seen a downward trend over the past few months that cannot be used to measure the entire health of the economy.

Dr Yamson made this revelation at the 5th Annual Ishmael Yamson & Associates Business Roundtable in Accra.

He said: “Today, there is a good feeling that we’re making progress and indeed it’s true. Last week’s monetary policy report indicated that all the macro-economic indicators were showing positive.

“Inflation is being subdued, interest rates are coming down, the cedi has relatively stabilised while business and consumer confidence was reported to be on the rise.

“Very comforting indeed, and our Finance Minister was voted the best Finance Minister in Africa for 2018. That is the big acknowledgement for the work they are doing.

“However, I’m old enough to know that macro stability does not, in itself, deliver goods and prosperity. It only provides the environment, the time and space for economic actors to take investment decisions.

“Our experience is that as a country, we have not been good at sustaining macro stability beyond our four-year political election calendar. So, we need to make some more determined efforts to depart from what seems to have become a structural impediment to our search for prosperity.”

Source: ClassFMonline