Benjamin Nii Nai Anyetei
Professor Isaac Boadi, Dean of the Faculty of Accounting and Finance at the University of Professional Studies, Accra (UPSA), has shared his assessment of the government’s first full year in office, describing its economic turnaround claims as “partially accurate.”
Speaking on Current Agenda at Ghana Broadcasting Corporation (GBC), Prof. Boadi said he had both micro and macro-level expectations ahead of the President’s address.
He explained that he was looking forward to a detailed performance report covering progress made over the administration’s first full year. According to him, key areas of interest included updates on the national economy, outcomes of the National Economic Dialogue, and the status of the government’s homegrown fiscal consolidation programme.
Prof. Boadi also indicated that he expected updates on infrastructure, particularly the Agenda 111 hospital projects, as well as agriculture and food security interventions, including developments in the poultry sector.
On the President’s assertion that “Ghana is back and working again,” Prof. Boadi said the statement could be considered partially correct when measured against certain macroeconomic indicators.
He cited data from the Bank of Ghana’s latest economic and financial summary, noting that the cedi had appreciated by over 40 percent. He also referenced a decline in the public debt-to-GDP ratio from about 165 percent to approximately 13 percent, and gross international reserves hovering around $13 billion.
He added that Ghana is recording about 5.7 months of import cover, above the three-month threshold often used as a benchmark.
However, he pointed to data from the Ghana Statistical Service indicating a negative 2.2 percent producer price inflation rate, explaining that the negative figure suggests pressure within the manufacturing sector.
While acknowledging improvements in some macroeconomic indicators, Prof. Boadi noted that individuals and industries continue to feel economic strain. He said the manufacturing sector remains under pressure and is not experiencing significant growth.
He concluded that although the government has made progress, challenges remain, and reforms will require sustained implementation to address existing economic gaps.
