Ghana Is A Middle Income Status “In Theory” – Prez Mills

Even though Ghana has reached a middle income status, President John Mills says a lot more needs to be done to raise the living conditions of Ghanaians to a level commensurate with our new status.

In the latter part of 2010, figures released by Ghana’s Statistical Service indicated the country’s economy stands at GH¢44 billion, 60 per cent more than earlier estimated. The country, per the new figure, was deemed to have attained a middle income status.
Government’s statistician, Dr. Grace Bediako strongly believed the new figures confirmed suspicions that the economy had been grossly undervalued at least for the past five years. She said the re-basing of the economy was in line with international best practice and had been possible due to additional data gathered.

However, in his State of Nation Address on Thursday, the President said Ghana only remains a middle income status “at least, in theory”. He adds, “I used the phrase, in theory, advisedly because when we compare the levels achieved by other middle income countries, it is quite clear that we have a lot of catching up to do”.

However President Mills remains hopeful that with the needed interventions, the living conditions of Ghanaians will equal its new status.

“I believe that substantial investments we have secured would take us closer to the levels achieved by the other middle income countries in road and rail construction, in oil and gas industry, in education, health, provision of water, electricity and even waste management”.

Source: Abena Asiedua Tenkorang/Xfm 95.1/Accra/Ghana