Renowned economist Professor Godfred Bokpin has called for a renewed national commitment to long-term economic planning, stressing the importance of data-driven policymaking to ensure inclusive and equitable development across Ghana.
Speaking at the Joy Business Economic Forum, Prof. Bokpin criticized Ghana鈥檚 continued reliance on short-term, politically motivated strategies, which he said have failed to build the economic resilience needed to weather external shocks.
鈥淥ur growth pattern has been quite erratic. The reason is simple鈥攚e haven鈥檛 adopted a long-term perspective to our national development. The short-term nature of our planning does not allow us to build the strong economic fundamentals that will enable us to withstand shocks,鈥 he explained.
He emphasized that while Ghana has seen some progress, its economy remains volatile and unsteady, largely due to development plans tied to electoral cycles rather than long-term national interests.
Prof. Bokpin warned that without a strategic, long-range plan aimed at achieving sustainable growth, the country will continue to struggle with economic fragility.
Regional Inequalities and Misaligned Policies
He also highlighted the widening regional disparities, particularly between urban and rural areas, in access to infrastructure, education, healthcare, and employment.
鈥淲e don鈥檛 use micro-level data to inform national policy. If you look at food inflation, for example, the regions react differently鈥攂ut our policies don鈥檛 reflect these nuances,鈥 he said.
To address these imbalances, Prof. Bokpin advocated for the systematic use of national data, including demographics, poverty rates, agricultural output, and infrastructure needs, to shape resource allocation and guide development priorities.
Agriculture as a Path to Stability
He singled out agriculture as a key sector that could help curb food inflation and enhance economic resilience, if given the right attention and investment.
鈥淓ach region holds unique economic potential鈥攆rom agriculture and mining to tourism. With targeted policies and investments tailored to these strengths, we can unlock real national growth,鈥 he added.
Prof. Bokpin concluded with a call for bipartisan collaboration on national development, urging political leaders, civil society, and the private sector to rally around a unified long-term framework for economic transformation.