Professor Lord Mensah, an Economist and Senior lecturer at the University of Ghana Business School (UGBS), says the 24-hour economy proposed policy by the flagbearer of National Democratic Congress (NDC) John Dramani Mahama is currently the most appropriate economic policy proposal considering the state of the Ghanaian economy.
John Mahama has assured that the next NDC government will introduce a 24-hour economy with incentives and tax breaks for manufacturers who will run extra shifts to create more room for employment and boost production and services in the country.
Addressing a public lecture organized by the National Youth Commission of NDC Professionals Forum (PROFORUM) at SDA College of Education, in New Juaben North, the Economic Lecturer at the University of Ghana, Professor Lord Mensah noted the challenges of a dollar-denominated economy, suggesting that increasing production through the 24-hour economy policy could bring more inflows and stabilize the currency.
He stressed the importance of targeting specific key areas with the 24-hour economy approach.
On fiscal policies, Professor Mensah pointed out that heavy government borrowing has stifled individual lending and recommended minimizing budget deficits to encourage banks to lend more to individuals.
He critiqued Ghana’s reliance on the Euro Bond market arguing that it has made politicians complacent and hindered export-driven policies.
Prof. Lord Mensah warned that the ease of accessing international markets has harmed the economy, leading to the sacrifice of export-driving policies for quick Euro Bond money.
Present at the event were Joseph Yamin, Mustapha Gbande both National Organizer and Deputy General Secretary of NDC respectfully, Samuel Adongo and Dr. Martin Otu Offei, both parliamentary candidates for Me Juaben North and South respectively.
Dr. Robert Kofi Doe, National Youth Commissioner of NDC Professionals Forum said the forum will be instrumental in the electoral process for the NDC.
By: Kofi Adjei | Metrotvonline.com | Ghana
