Economist Dr. Patrick Asuming Calls National Economic Dialogue Revelations “Surprising and Shocking”
Accra, Ghana – March 3, 2025
Economist and Senior Lecturer at the University of Ghana Business School, Dr. Patrick Asuming, has expressed deep concern over the shocking revelations emerging from the National Economic Dialogue, describing them as unexpected and alarming.
Speaking on Joy FM’s Midday News, Dr. Asuming highlighted two key areas of concern:
📌 Energy Sector Debt: The rate at which debt is accumulating in the energy sector is far worse than anticipated, posing a severe threat to economic stability.
📌 COCOBOD’s Financial Distress: The debt stock and servicing costs of COCOBOD are at levels he described as astonishing, raising doubts about the institution’s sustainability.
A Crisis Worse Than Expected
While he acknowledged that economic struggles were anticipated, Dr. Asuming admitted that some details were unexpectedly severe.
“By and large, we expected economic difficulties, but some of the details are surprising and shocking,” he noted.
Dr. Asuming also referenced Finance Minister Dr. Cassiel Ato Forson’s presentation, stating that it set the stage for deeper discussions on practical solutions.
Urgent Need for Action
Despite the grim outlook, Dr. Asuming emphasized that the National Economic Dialogue must lead to real policy changes, cautioning against mere discussions without implementation.
“If the discussions only end in a report without action, then there will be no point in having them,” he warned.
He urged all stakeholders to engage in open and honest discussions, ensuring that the final report reflects the true economic reality and guides policy decisions.
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