Skip to main content

Agric investment will control inflation- Gatsi

By: Fred Yaw Sarpong

An Economist and a Senior Lecturer at the University of Cape Coast School of Business, Dr. John Gatsi has emphasized that Ghanaians must produce more food crops to reduce the price of food stuffs on the market which will also have effect on lower inflationary rate.

The rate of inflation has two main components: Food inflation and Non-food inflation. The food inflation is driven by subgroups such as vegetables; coffee, tea and cocoa; fish and sea foods while the non-food inflation is also driven by subgroups education; housing, water, electricity, gas; transport; recreational and culture; clothing and footwear and among others.

Food inflation sometimes record the lowest rate and it contribute significantly to the year-on-year inflation. Dr. Gatsi was reacting to the National Democratic Congress (NDC) 2016 Manifesto.

Dr. Gatsi stated that over the years Ghana has seen with the little effort put in place in agriculture sector, food prices are reduce and for that matter they contribute to lower inflation development of the country.

“But if you look at the importation basket of the country you will also realize why we should be focusing on importation of food items we do not have the capacity to produce here in Ghana. However, we are rather importing fish stock, vegetables and other foods crops which we are already producing in the country from outside the country,” he mentioned.

According to the 2016 NDC Manifesto, “a strong focus will also be on increased agricultural production, especially food crops. The evidence shows that inflation is massively influenced by the food crops and fisheries component of the Consumer Price Index (CPI) basket.”

The manifesto added that “to ensure that food crops and fisheries sector do not impact negatively on inflation, a better congenial framework will be provided for the public and private sector to drive the modernization of the agricultural sector.”

“It is expected that this modernization of agriculture will feed into the macroeconomic management process while macroeconomic stability will, in turn, enhance private sector competitive agricultural production,” it added.

Dr. Gatsi said if NDC party who is promising focusing on those areas is able to do it, it means it government will be able to reduce the import of these imported items into the country.

“It will also help to create productive activity in production of fish stock and other food stuffs in the country and that will also help to reduce the inflation in the country,” he indicated.

“If you are able to produce enough to cater for the sector then you will be reducing the importation of fish stock and other food stuffs and it will mean that you are controlling inflation and at the same time you creating jobs, because the prices of food stuffs will come down.”


Popular posts from this blog

Deputy AG sues Facebooker over 'malicious' Ameri deal

The Deputy Attorney-General and Member of Parliament for Bolgatanga East, Mr Dominic Ayine has filed a defamation suit at an Accra High Court against a Facebook commentator, Evron Hughes.
In Mr Ayine’s statement of claim, sighted by Graphic Online, he accused Mr Hughes of defaming him in a post he authored and published on Facebook on December 21, 2015, titled “RE: AMERI TRANSACTION”.
According to the Deputy A-G, the “false and malicious” post has provoked “public disaffection” against him and exposed him to public ridicule and contempt.
Describing Mr Hughes as a “self-styled social media blogger and a social commentator”, Mr Ayine said the Facebook post had brought his hard-won reputation “as a respected politician, teacher and lawyer” into “hatred, ridicule, odium, discredit, contempt, opprobrium and reproach”.
The Deputy A-G said the “defamatory words” were authored with the sole intent to reduce him in the estimation of all right thinking Ghanaians, adding that he had received numerou…

Meet Ghanaian female shoemaker

The Saint Ozwald shoe brand

By: Fred Yaw SARPONG
The Daily Express

From her humble beginning in Sunyani in the Brong Ahafo region, a senior high female graduate from the Twene Amanfo Senior high in the Brong Ahafo Sunyani and a Ghanaian now boasts of being one of the most popular Made-in-Ghana shoe brands and has the most number of celebrity endorsements.
Sandra Ozwald, CEO of Saint Ozwald

After Sandrah Ozwald completed school in 2013, her parent couldn't have enough money to help her continue school so she planned to do something for herself by selling ice cream, groundnut cakes or food. Back at the senior high, Sandra used to make groundnut cakes, condensed toffees and ice cream to support herself since her mother couldn't provide all for her.

With 12 siblings and the only girl child (2nd born) among them, and whiles planning which of these to sell, Sandra attended a friend’s wedding and the grooms shoe looked so attractive to her.

According to her, the groom’s shoes were Ma…