Speaker of Parliament Alban Bagbin has commented on the current state of the Ghanaian economy describing it as being in a state of severe disoriented downward spiral.
Bagbin was speaking over the weekend during an out-of-town pot-budget retreat for Members of Parliament and other relevant stakeholders.
In his address, he spoke about the responsibility that the MPs had in passing the budget but importantly scrutinizing it to ensure the citizenry get the best out of it.
He admitted to the challenging times and the school of thought about what and why the economy is where it was, but also that there was the need to acknowledge that the economy in its current state was distressed.
“The times and circumstances we are in at the moment are extremely challenging. The global challenges, uncertainties, complexities, insecurity and national moral and psychological decay. More germane, we cannot pretend and dismiss the obvious regarding Ghana’s severely disorientated economic downward spiral.
“Things are getting tougher by the day. Some may assert that there occurs a global economic crisis, but others will present data to suggest otherwise. Mainly that the challenges are largely a result of our own doing. In order words, self-inflicted. That we pressed the self-destruct button,” he said
