The Institute of Social Statistics and Economic Research (ISSER) at the University of Ghana has expressed concern over the disparity between Ghana’s economic growth and the lived experiences of its citizens.
According to a recent ISSER report analyzing the 2024 mid-year budget review, the Ghanaian economy expanded by 4.7% in the first quarter of the year, surpassing the projected 3.1% annual growth rate.
The non-oil sector also recorded growth, albeit at a slower pace compared to the previous year.
Despite these positive economic indicators, ISSER highlights a disconnect between the country’s overall economic performance and the realities faced by ordinary Ghanaians.
Data from Afrobarometer surveys reveals a surge in hardships due to rising food and transportation costs, as well as increased prices for essential commodities like cement and fuel.
ISSER characterizes the economic situation as “bittersweet,” acknowledging the growth figures while emphasizing the need for economic policies that translate into tangible improvements in the lives of Ghanaians.
