Tag: Dr. Patrick Asuming
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IMF bailout: Severe hardships await Ghanaians – Economist predicts
An Economist, Dr. Patrick Assuming, is anticipating severe hardships for Ghanaians in the coming months following the country’s receipt of $600 million, being the first tranche of the International Monetary Fund’s (IMF) $3 billion three-year extended credit support. The senior lecturer with the University of Ghana entreated Ghanaians to brace themselves up as they will…
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Economist optimistic that Ghana’s economy will perform better in 2022
Economist, Dr. Patrick Asuming, is optimistic that Ghana’s economy will record a higher growth rate by the end of this year. Provisional data from the Ghana Statistical Service shows that Ghana’s economy expanded by 5.4% in 2021, far higher than the 0.4% recorded in the year 2020. The new figure exceeds the 2021 GDP growth…
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Economist predicts further hikes in inflation rate
Economist, Dr. Patrick Asuming, is forecasting higher inflation rates in the country in the coming months before it takes a downward turn. According to him, this is due to current market developments. National inflation has hit 19.4% in March 2022, the highest since 2009. The rate is 3.7 percentage points higher than the 15.7 percent…
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Dr. Bawumia’s speech did not address current economic challenges – Economist
Economist, Dr. Patrick Asuming has stated that Vice President Dr. Mahamudu Bawumia’s presentation on the state of the economy on Thursday, did not fully address the current economic challenges Ghanaians are facing. According to him, Dr. Mahamudu Bawumia presentation was uninspiring because it did not offer hope to the ordinary Ghanaian. The speech was necessitated…
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Economist predicts inflation driven hike in Ghana’s monetary policy rate.
Economist and lecturer at the University of Ghana Business School (UGBS), Dr. Patrick Opoku Asuming is confident the Bank of Ghana will soon increase its Monetary Policy Rate above the current 14.5%. This, according to him, is due to the rising inflation in the country and developments on the global scene especially the likelihood of…
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Economist urges Gov’t to signal its readiness to sacrifice as E-Levy debate continues
Economist and lecturer at the University of Ghana Business School (UGBS), Dr. Patrick Opoku Asuming says it’s time for the government to send signals of its willingness to sacrifice some perks if it wants the citizenry to consider accepting the Electronic Transfer Levy (E-Levy). There continues to be opposition to the E-Levy from different quarters…
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Rely on digitization to plug expenditure loopholes – Economist to gov’t
Economist and lecturer at the University of Ghana Business School (UGBS), Dr. Patrick Opoku Asuming has charged the government to hasten efforts at leveraging its digitization agenda to plug any revenue and expenditure loopholes while focusing on property taxation and tax exemptions to raise more revenue. The remarks follow the downgrades of Ghana’s credit rating…
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Policy rate may not change anytime soon – Economist
The monetary policy rate has once again been maintained at 14.5% by the Monetary Policy Committee of Bank of Ghana. This marks the 6th time in the past 12 months that the figure which signals the rate at which the Central Bank will lend to commercial banks has been maintained. In the statement issued by…
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Policy rate likely to be maintained for 6th time over high inflation – Economists
The Bank of Ghana is likely to announce a stay of the Monetary Policy Rate for a 6th consecutive time later today, Monday, March 22, 2021. This assertion was made by some economists who have been sharing their view on Ghana’s economic outlook with Citi Business News. The rate which is of keen interest to…
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Government urged to present credible recovery plan in 2021 budget
An economist at the University of Ghana Business School, Dr. Patrick Asuming has urged government to use the 2021 budget reading to present a credible recovery plan to the nation. The 2021 budget is expected to be presented by the Majority Leader in Parliament Osei- Kyei Mensah Bonsu according to information available to Citi Business News. This follows…