Finance minister Seth Terkper has said the medium term prospects of the Ghanaian economy term prospects are very bright despite the current challenges.
The Minister based his prediction mainly on an expanding services sector and improvements in oil and Gas infrastructure in the country.
This is contrary to the gloomy picture painted by the Institute of Statistical social and economic research (ISSER) in its 2014 State of the Economy report.
Highlighting government’s achievements to support his argument, the Minister said : “First of all the services sector continues to perform well. Secondly our [government ] consolidation efforts and the solution to the problems from subsidies to power situation keep improving. Beyond the short term measures we also have a services sector that continues to grow. .. ”
Delivering a lecture at the University of Ghana on the prospects of the economy the Finance Minister further stated that Ghana’s economic woes will soon be over.
Seth Tekper also indicated that government’s plan to be a net exporter of power is on course and will be realized from next year after the current power crises is resolved by the end of the year.
“At the end of these three initiatives, from Jubillee to TEIN , to Sankofa, we are going to see investments that will bring conservatively about 80,000 additional barrels of crude oil…we are going to restore the temporal power shortages by the end of this year and then from next year increase the supply of power..”
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By: Marian Efe Ansah/citifmonline.com/Ghana