Edem Agbana disagree with Prof. Patrick Asuming assertion that the economy is recovering only on paper

Member of Parliament for Ketu North, Eric Edem Agbana has expressed his total disagreement with economist and lecturer at the University of Ghana Business School, Professor Patrick Asuming assertion that the economy is recovering on paper but not in pockets.

Edem stated the current economic trajectory is indeed making a real difference in the lives of many Ghanaians.

“I respectfully disagree with the assertion that the economy is recovering only on paper and not in the pockets of Ghanaians. The current economic trajectory is indeed making a real difference in the lives of many Ghanaians. Ato is indeed ‘Forson’ & Dr Asiamah is showing class in economic management.” The Edem argued.

“I recently fronted and supported a farmer-based organisation in my constituency to acquire a combine harvester. Due to the recent appreciation of the cedi, the cost of importation was significantly lower than they had envisaged. This translated into real savings for the group, resources they can now channel into other productive areas.” Edem said.

“In local markets across the country, we are seeing gradual but consistent reductions in the prices of several essential goods. Traders are adjusting prices downward in response to currency stability and reduced transportation costs. Many companies, including some dealers in electronics, have publicly announced price reductions. These are not gains on paper. They are direct reliefs for consumers and real value being felt in people’s pockets.” He added.

Edem indicated that “the broader macroeconomic indicators, such as the continuous decline in inflation, the stability of the exchange rate, and Ghana’s improved credit rating as recently validated by Fitch, are gradually restoring investor and consumer confidence. This is essential for sustained economic recovery and growth.”

I fully understand that economic recovery is uneven and may not be felt equally by all at once. However, it is inaccurate to conclude that it remains only on paper. The signs of improvement are reflecting in the everyday experiences of citizens and businesses alike.

Source: Elvisanokyenews.net