The inflation debate might not be ending anytime soon as many more politicians, economists and social commentators continue to join the fray.
The latest to join in the debate is newly elected Presidential Candidate of the Convention People’s Party, Dr. Abu Sakara who has criticized the Mills led administration for doing little beyond the attainment of single digit inflation.
He has called the administration an “era of lost opportunity”.
Unveiling his agenda for the 2012 Elections on pm: EXPRESS on Multi TV’s Joy News channel, Dr. Sakara said the NDC government had fine economic indicators and only needed to build on them.
“Achieving single digit inflation and somewhat bringing interest rates down were not ends in themselves especially as it has not reflected positively in the lives of Ghanaians. Key areas of the economy - manufacturing and the agric sectors have both declined” he observed.
Dr. Sakara, an Agronomist, said the fact that 70 percent of Ghanaians are unbanked should have been a clear indication for the Mills administration to shift focus aside investments in jobs and growing the manufacturing sector.
While acknowledging the likely difficulty in the quest to expand the formal sector, Dr. Sakara said he hopes to approach the growth and sustenance of the economy under his government with a broader view.
He lauded the Kufuor administration’s decision to go HIPC but regretted the poor utilization of the first tranche of money, saying it was not put into productive sectors of the economy.
The CPP flagbearer said for as long as the country continues to rely on raw material export, her dealings with trade partners will not be to her advantage.
Dr. Sakara thinks “if the West cannot accept valued goods in their economy especially agricultural goods for which we have a comparative advantage, then we cannot have a trade balance with them that grows our economy. This is one of the crucial things we need to put right”, he opined.