The General Secretary of the National Democratic Congress (NDC), Fifi Kwetey, says former President John Dramani Mahama’s 24-hour economy policy is a game changer.
According to him, the policy when implemented will massively improve the economic fortunes of the country.
This assertion is bolstered by the findings of Dr. Yakubu Abdul-Salam, an esteemed Associate Professor of Economics at the University of Aberdeen Business School, who utilized the Computable General Equilibrium (CGE) model in his research.
Endorsing the findings, Mr. Kwetey took to his Facebook page to explain that the 24-hour economy policy could catalyze a monumental 31.7% growth in Ghana’s Gross Domestic Product (GDP) over the next decade.
According to the research, the policy will also result in the creation of over 3 million new jobs within five years.
Former President John Dramani Mahama, who is contesting the 2024 presidential election on the ticket of the opposition National Democratic Congress (NDC), has said one of his major policies will focus on the implementation of a 24-hour economy when elected as president.
The policy has since gained popularity in the political space in Ghana after Mr. Mahama’s pronouncement.
Read the full social media post by Fifi Kwetey below:
Unlocking Ghana’s Potential: The Transformative Impact of the 24-Hour Economy Policy
Recent research by Dr. Yakubu Abdul-Salam, Associate Professor of Economics at the University of Aberdeen Business School, sheds light on the remarkable potential of Ghana’s 24-hour economy policy, paving the way for unprecedented prosperity.
In his study, Dr. Abdul-Salam employs the sophisticated dynamic recursive Computable General Equilibrium (CGE) model to meticulously assess Ghana’s transition to a 24-hour economy. Renowned for its comprehensive analysis, this methodology offers a robust forecast of the policy’s implications, emphasizing its significance for Ghana’s economic landscape.
The study’s projections are striking, indicating a remarkable 31.71% expansion in Ghana’s economy over a decade under the 24-hour economy policy. This substantial growth trajectory signifies a leap towards economic resilience, prosperity, and enhanced global competitiveness.
Central to the policy’s objectives is its commitment to generating over 3 million job opportunities within five years. Beyond mere statistics, this surge in employment represents the aspirations and livelihoods of millions of Ghanaians, fostering diverse and sustainable career avenues across various sectors.
As the nation approaches the polls, the choice is clear. For prosperity, for jobs, for an inclusive and vibrant Ghana, endorsing and re-electing H.E. John Mahama is the way forward. Let’s embrace a future where every hour counts, where progress is perpetual, and where Ghana’s boundless potential is fully realized.
Together, let’s unlock Ghana’s potential and build a brighter future for all!
Reference:
Abdul-Salam, Y. (2024). The Transformative Impact of the 24-Hour Economy Policy on Ghana’s Economic Landscape. University of Aberdeen Business School, January 2024.
Source: myjoyonline.com
