An Economist, Habib Adam has attributed instability in the economy to concentration of resources and effort on the exploration of oil and gas to the detriment of other sectors such as agriculture, which is the main stay of the economy, employing more than half the Ghanaian workforce.
Speaking on GBC’s Current Affairs Programme “Talking Point”, which looked at the economic outlook in Ghana, Mr. Adam said the economic structures must be re-looked at again, with additional value placed on Agriculture and the mining sectors, since they are viable ventures of economic growth that can impact the welfare of Ghanaians.
The CEO of CLAYDORD CONSULT, Professor Cletus Dorduno, said the current state of the economy could be blamed on the love for imported goods, instead of locally produced ones.
He noted that the trend puts enormous pressure on the Cedi.
Professor Dorduno said to boost local businesses, government must look to solving the high interest rates charged at the banks which he indicated, is a huge challenge to commerce.
A Senior Lecturer at the University of Ghana, Saint Kuttu called for emphasis to be placed on science, technology and engineering.
He proposed a change in the way the micro- economic sector is managed, and suggested a plan in the use of the oil revenue.
