A large number of Chief Finance Officers (CFOs) in the country expect economic growth prospects to be worse this year than in 2015.
Their concerns were captured in a new CFO survey report which was put together by the accounting firm, KPMG.
Sixty-seven Chief Finance Officers from various organizations were engaged in the country between February and March, this year.
The officers were working in the agriculture, aviation, insurance, banking, maritime, real estate sector power and utilities, transport and logistics, public and food and beverages sectors.
KPMG report also showed that the respondents expect this year to be very challenging for them.
The report, however, noted that a small number of the officers in the maritime, public sector, aviation were optimistic about economic growth prospects for this year.
Most of them also saw reducing the cost of operations as one of their biggest challenges going forward, because of the challenging economic environment.
Most of them also saw the current energy crises, challenges with the Ghana cedi and economic environment as factors that will affect their growth.
For some analysts, the concern by a large number of Chief Finance Officers expect this year to worst than last year could be said to be interesting, especially when 2015 was characterized by weakening currency, a slowed GDP growth rate, protracted energy crises, increasing government borrowing.
Ghana’s economy last year recorded a 3.9 percent growth rate. Government has forecast a growth rate of 5.4 percent.
However, the IMF is looking at a more realistic growth of about 4.5 percent.
In a related development, Partner Advisory at KPMG, Andy Akoto, has said the current challenge showed that managers of the economy must act fast to stabilize the situation.
– Myjoyonline