Ghanaians should brace for economic hardship in the coming months, but it is all part of a necessary process to rebuild the economy, Economist Dr. Peter Terkper has stated.
Speaking on Prime News on ABC News GH, he noted that structural challenges within the financial and energy sectors would require bold interventions to stabilize the country.
“We should prepare for tough times ahead; however, it’s for the success of the economy,” he explained.
He pointed out that the Electricity Company of Ghana (ECG) owes a staggering GHC 68 billion, a debt that must be addressed urgently.
“We are looking forward to tough measures the President will take,” he stated, adding that reforms in the energy sector will be critical to economic recovery.
Dr. Terkper also backed the removal of certain taxes, including the COVID-19 levy and the e-levy, as promised by the government.
“COVID levy, e-levy needs to go, and we are hoping that we see them go,” he said, stressing that reducing the tax burden on businesses and individuals would provide relief and stimulate growth.
He concluded that while the path ahead may be difficult, decisive policies and financial discipline will be essential in steering Ghana toward economic stability.
