Deputy Minister of Finance, Cassiel Ato Forson says revenue short falls is a contributing factor to the depreciation of the economy.
He said the prices of major resources such as cocoa, and gold depreciated last year and thus affected the total revenue of the country.
Speaking on GBC's Current Affairs Programme Talking Point, Mr. Ato Forson noted that the preference for foreign goods which results in increased imports is also a cause for concern when issues pertaining to the economy are mentioned.
A Deputy Ranking Member of the Finance Committee of Parliament and MP for Tatale Sanguli, James Cecil Yanwube, was of the view that the country needs to live within its means.
He said government must offer workable solutions while mobilizing resources effectively especially from judgement debts to boost the economy.
In his remarks, an Economist and Senior Lecturer at the School of Business, University of Cape Coast, Dr. John Gatsi said measures that have been mentioned by the Finance Ministry to curb the depreciating economy are long term.
He said the strategies to implement the measures must be clear.
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