The Nhyiaeso MP made the case that structural flaws that have existed throughout Ghana's history are the cause of the country's economic difficulties in an interview with JoyNews' PM Express on Monday, March 3.
He said, "There are so many incorrect economic fundamentals that it doesn't matter who is in government if we don't realize and fix them."
Principal Issues Dr. Amoah Raised:
He characterized Ghana's heavy reliance on imports as a significant vulnerability that leaves the nation open to international shocks, like as those that followed the COVID-19 pandemic.
Dependency is a sign that you are having problems. He said, "If something happens to the person, it occurs to you.
High Cost of Doing Business: He emphasized that the private sector is unfairly burdened by Ghana's economic system, which deters investment.
He went on to say that a nation cannot be sustained if its government borrows money from the domestic market at a rate higher than that of the private sector.
Monetary Policy Issues: He maintained that stability requires addressing broader economic concerns, even though controlling inflation is essential.
A strategic economic strategy that encourages self-reliance, lowers borrowing, and creates a competitive business climate is what Dr. Amoah advocated.
He emphasized that regardless of the party in power, Ghana's economic future would remain unclear if these fundamental issues were not addressed.