Government must prioritise monetary policy for sustained economic stability – Economist – Nsemkeka
Economist Dr Evans Nunoo has underscored the need for the government to place greater emphasis on monetary policy as a key strategy for achieving long-term economic stability.
He stated that the government’s fiscal and monetary policies are central to maintaining low inflation and stabilising the economy.
Dr Nunoo’s remarks follow President Mahama’s 120-day social contract update, during which the President highlighted his administration’s economic gains.
While acknowledging that some promises remain unfulfilled, Dr Nunoo described the overall economic outlook as promising.
“So far, so good. If you look at all the indicators, like the inflation rate, the stability of the cedi, things are looking positive. If the government continues this way, we will see sustained economic growth,” he said.
He further noted that not all initiatives in the 120-day plan could be realised immediately.
“Some policies will take time to materialise. Others can be implemented quickly, but something like the 24-hour economy, for instance, requires security measures and an enabling environment. You can’t rush it, it has to be properly structured,” he emphasised.
Dr Nunoo also highlighted the role of the private sector in addressing unemployment, calling on the government to ensure its growth.
“The government should find a way to make sure the private sector thrives, by creating jobs so that unemployment can be solved,” he concluded.