Friday, October 31, 2025
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
  • Newscenta Newspaper
No Result
View All Result
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
  • Newscenta Newspaper
No Result
View All Result
NewsCenta
No Result
View All Result

Ghana’s economic growth still not in our pockets — Economist

Despite positive growth figures, Ghanaians feel little relief from economic hardship.

Kojo Emmanuel by Kojo Emmanuel
June 20, 2025
in Business, Main
0
Ghana's economic recovery

Finance Minister Dr Cassiel Ato Forson

Share on FacebookShare on Twitter

While Ghana’s economic indicators, and recovery may paint a picture of recovery, many citizens are struggling to reconcile the statistics with the realities of their daily lives.

According to Professor Patrick Asuming, a renowned Ghanaian economist and lecturer at the University of Ghana Business School, the economic growth reported in official statistics has yet to translate into meaningful improvements in the average Ghanaian’s standard of living.

You might also like

Mahama SML contract

Mahama cancels SML contract

October 31, 2025
EU Parliament

EU Parliament delegation strengthens ties with Ghana

October 31, 2025

Speaking on Joy News, Professor Asuming acknowledged the signs of macroeconomic stabilisation — including a reduction in inflation, improved exchange rate stability, and marginal GDP growth — but warned that these developments are largely theoretical for most households.

He cautioned against over-celebrating recent improvements in key macroeconomic indicators when most people are still struggling to keep up with rising costs.

“It seems to me that the financial and the monetary side of the economy has performed better, and the real side seems to be lagging.

“There’s a disconnect between how people are perceiving the economy and what the macro numbers are telling us,” he said.

He indicated that while inflation is coming down and the Producer Price Index (PPI) has dropped from around 18 to 10 per cent, that doesn’t mean prices are falling.

He stated that “Prices are still rising. They haven’t declined. The rate of increase has reduced, but that’s not the same as things getting cheaper.

“The currency has strengthened, yes, but look at the other components of production—tariffs are going up, wages are not going down, and domestic production costs keep rising.”

In 2022 and 2023, Ghana faced one of its worst economic crises in decades, marked by skyrocketing inflation, a collapsing currency, and crippling debt. After entering an International Monetary Fund (IMF) programme in 2023, the country has seen some signs of recovery, with recent figures from the Bank of Ghana indicating modest growth and renewed investor confidence.

However, the positive numbers have not been mirrored in public sentiment. Many Ghanaians report continued hardship, rising cost of living, and limited access to stable employment.

Post Views: 304
Tags: GDPGross Domestic ProductProfessor Patrick AsumingUniversity of Ghana
Kojo Emmanuel

Kojo Emmanuel

Related Stories

Mahama SML contract

Mahama cancels SML contract

by Kojo Emmanuel
October 31, 2025
0

President John Dramani Mahama has ordered the cancellation of all contract agreements between the Government of Ghana and Strategic Mobilisation...

EU Parliament

EU Parliament delegation strengthens ties with Ghana

by NewsCenta
October 31, 2025
0

Six (6) Members of the European Parliament (MEPs) visited Ghana on October 28-29, 2025, as part of an official mission...

Shaibu digital

Shaibu urges balanced regulation for digital finance growth

by NewsCenta
October 31, 2025
0

Ghana’s financial technology industry has reached a decisive moment where regulation must evolve in tandem with innovation to ensure that...

Ecobank Group profit

Ecobank Group reports profit before tax of $657m

by NewsCenta
October 31, 2025
0

Ecobank Group, the leading pan-African financial services Group, today announced unaudited financial results for the first nine months of 2025,...

Recommended

Mahama SML contract

Mahama cancels SML contract

October 31, 2025
Policemen raping custody

Two policemen arrested for raping 26-year-old mother in custody

October 31, 2025
EU Parliament

EU Parliament delegation strengthens ties with Ghana

October 31, 2025

Popular Story

  • Songs Daddy Lumba

    See the list of over 200 songs Daddy Lumba released

    746 shares
    Share 298 Tweet 187
  • The true story behind Ghana’s acceptance of deportees

    723 shares
    Share 289 Tweet 181
  • Gold-backed policies since 2021 driving economic gains — BoG

    715 shares
    Share 286 Tweet 179
  • 10 of top 11 causes of death killing more men in Ghana

    700 shares
    Share 280 Tweet 175
  • Bissue floors High Court and OSP at Supreme Court

    692 shares
    Share 277 Tweet 173
NewsCenta

Newscenta is a Ghana-based news organisation publishing in print (The Newscenta Newspaper) and on a digital media platform (newscenta.com) dedicated to delivering timely and impactful news across various sectors, including politics, business, economy, technology, and culture.

  • About Us
  • Contact Us
  • Health
  • Education
  • Mining
  • Energy
  • Telecoms
  • Agriculture
  • Opinion
  • Newscenta Newspaper
  • Trade

© 2025 All Rights Reserved NewsCenta.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Newspaper Headlines
  • Business
  • Agriculture
  • Education
  • Sports
  • Tech
  • Opinion
  • Newscenta Newspaper

© 2025 All Rights Reserved NewsCenta.

Connect with us