Single digit inflation not possible - IFS boss

The Executive Director of the Institute of Fiscal Studies (IFS), Professor Newman Kusi, says it is not possible for the country to come out of the International Monetary Fund (IMF) programme with a

Ghana in 2015 reached a three-year $918 million financial package with the IMF to support a reform programme aimed at faster growth and job creation while protecting social spending.

The reform programme also aimed at tighter fiscal discipline, stronger public finances and lower inflation.

President Mahama at the campaign launch of the National Democratic Congress (NDC) last Sunday noted that the country will come out of the IMF programme with a robust economy including achieving a single digit inflation.

He said:“We’ll come out of the IMF programme with inflation at single digit, a deficit of GDP [Gross Domestic Product] below 3 percent and debt to GDP [ratio] below 60 percent, a stable currency and significantly lower interest rate.”

READ MORE

However, in a newspaper interview, Prof. Kusi said the president’s prediction is not feasible, quizzing how the Mahama-led administration is going to achieve the single digit inflation.

“With inflation at 16.7 percent, how is the president going to bring it down within 10 percent by next year, through what means,” he told the Daily Guide newspaper.

“From the way things are going, I don’t see inflation coming down to single digit,” he added.

Single digit inflation not possible - IFS boss

The Executive Director of the Institute of Fiscal Studies (IFS), Professor Newman Kusi, says it is not possible for the country to come out of the International Monetary Fund (IMF) programme with a

Enhance Your Pulse News Experience!

JOIN OUR PULSE COMMUNITY!

Recommended articles

Nana Addo assures he will prioritize the welfare of cocoa farmers

Truck driver arrested for allegedly causing train accident on Tema-Mpakadan railway line

Kia driver who caused accident involving Ghana’s new train reports himself to Police

No passenger injured in accident involving Ghana’s newly imported train – Railways Minister

NAGRAT gives govt one-week deadline to address unpaid pensions affecting 700,000 workers

Inside story of how Ghana’s new train got involved in accident on a test run

3 years after he was declared dead, German-American billionaire found in Russia

She sent naked photos to Dubai lover while I battled kidney disease - Erico speaks on divorce

How did young politicians get so rich in just 5 to 7 years - Franklin Cudjoe asks