{
  "id": 2025374,
  "title": "Ghana’s output expansion largely driven by labour, capital rather than innovation – Opoku-Afari",
  "url": "https://urgent.news/2026/08/19/ghanas-output-expansion-largely-driven-by-labour-capital-rather-than",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T22:00:38.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/ghanas-output-expansion-largely-driven-by-labour-capital-rather-than-innovation-opoku-afari/"
  },
  "original_language": "en",
  "account": "Ghana’s economic growth has primarily been fueled by an increase in labor, capital, and extractive industries, rather than improvements in efficiency or innovation, according to Dr. Maxwell Opoku-Afari, a former First Deputy Governor. This long-term decline in productivity raises concerns about the sustainability, inclusivity, and resilience of Ghana’s growth strategy. Between 2013 and 2024, agriculture maintained a steady share of around one-fifth of GDP, while industry experienced fluctuations largely driven by extractive activities, rather than manufacturing. The services sector consistently dominated the economy. Dr. Opoku-Afari noted that the lack of a significant shift towards higher-productivity, export-oriented manufacturing means that economic growth has not been accompanied by the necessary structural changes to broaden the tax base, diversify exports, enhance productivity, and improve the government's ability to service its debt. The crowding-out effect of fiscal pressures became more evident over time, with private-sector credit growth slowing, and higher domestic yields increasing the cost of capital, thereby constraining investment and slowing potential growth.",
  "summary": "He pointed out that borrowing was frequently framed as financing for infrastructure and flagship programmes.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Child labour-free zones emerge as Ghana’s new weapon against child labour",
        "url": "https://urgent.news/2026/08/19/child-labour-free-zones-emerge-as-ghanas-new-weapon-against-child",
        "published": "2026-08-19T14:32:12.000Z"
      },
      {
        "outlet": "Adom Online",
        "title": "Child labour-free zones emerge as Ghana’s new weapon against child labour",
        "url": "https://urgent.news/2026/08/19/child-labour-free-zones-emerge-as-ghanas-new-weapon-against-child-1953898",
        "published": "2026-08-19T14:37:19.000Z"
      },
      {
        "outlet": "3News",
        "title": "Ghana Free Zones Authority discusses investment opportunities with Chinese investors",
        "url": "https://urgent.news/2026/08/19/ghana-free-zones-authority-discusses-investment-opportunities-with",
        "published": "2026-08-19T14:44:16.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}