Lower inflation means little if Ghanaians are yet to feel economic recovery – Gideon Boako

Deputy Ranking Member of Parliament’s Finance Committee, Dr Gideon Boako, has raised concerns over Ghana's economic recovery, suggesting that improvements in key economic figures have yet to result in better living conditions for many Ghanaians. Despite government data indicating falling inflation and improved fiscal health, citizens continue to face challenges such as high food prices, increased fuel and transport expenses, unemployment, and poor economic conditions.

Dr Boako emphasized that economic growth should be judged not just by headline statistics, but also by whether people are gaining employment, businesses are expanding, and essential infrastructure and services are being delivered to communities. He pointed out that the disparity between official economic indicators and the lived experiences of ordinary Ghanaians casts doubt on the quality of the reported recovery.

Dr Boako argued that lower inflation or a healthy fiscal balance alone do not signify progress if young graduates remain unemployed, contractors are not paid, and communities remain in waiting for crucial development projects. He urged that economic growth must be judged by tangible indicators such as the number of young people finding stable jobs, the completion of road projects, the recruitment of nurses after receiving financial clearance, the expansion of factories, the provision of quality healthcare to communities, the hiring of more teachers, and the assurance that households can plan for the future.

Dr Boako concluded by stating that while macroeconomic stability is crucial, it should be the foundation for broader economic transformation, not the ultimate objective. He emphasized that citizens ultimately vote for better lives, not for mere economic statistics.