Dr. Anthony Akoto Osei
Dr. Anthony Akoto Osei, the prominent member of the Finance in the Parliament of Ghana has associated the economic situation of the country to the economic condition of the Greece. He added that, but the problem is there is no bail out route from the European Union to Ghana.
However, the economy has started growing again, which the President John Dramani Mahama has endorsed to cautious economic management by his administration.
Due to numerous factors like energy crisis (Dumsor), it badly affected the country in last 3 years, at the result national economy has dropped in past few years.
Dr. Anthony Akoto Osei, Member of the Finance in the Parliament of Ghana has said if quick actions are not taken the economy in Ghana is about to collapse like it happened in Greece. He continued, it is not surprising thing for us as being Ghanaians that we have the high interest rate, there is only one country that has higher interest rate than of us.
He added that our country started developing when the oil full production hit in 2011 between 14 and 15 %, but it has changed with the passage of time because we are failing to project to keep around 4% and surely, there are so many countries more than that.
Dr. Akoto Osei said, recently I have gone to lend some money and I borrowed it at 36 % interest rate that is a confidential loan.
He believes that businesses may get between 29 and 32 % interest rate.
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