The unpredictability of Ghana’s economy serves as a nightmare for businesses, Economist Dr Ishmael Yamson, has said.
Dr Yamson explains that businesses need a predictable economy to be able to run their operations effectively but the prevailing circumstances in Ghana currently do not create room for businesses to plan properly.
- “This period is the most difficult time that Ghanaian businesses have faced. You need a predictable economy, but we currently have a completely unpredictable economy.
“The most difficult aspect is that there doesn’t seem to be a real effort from the government or anyone else to change direction, and I can’t see anything indicating that the economy is improving,” he said.
Dr Yamson further observed that businesses are reeling under harsh circumstances..
“If you are a businessman in this economy today, you probably sleep with nightmares. You wake up the next morning not knowing what will hit you next, and it’s been especially tough for manufacturers.
“Having spent 30 years with the multinational company Unilever, I can really sense their frustrations in the current crisis. This is because you don’t have control over your costs, absolutely no control.
“All your costs are determined by factors outside your control as a business. If anybody asks me what keeps me awake at night, I will tell you it is the Ghanaian economy,” he told Joy FM.
