‘Ghana needs policy reforms to improve conditions’

The Institute of Economic Affairs’ has stressed the need for policy reforms that would speed up the rate of transmission of growth impulses into improved living conditions.

A survey conducted by the IEA said about 40 per cent of 1,200 respondents think the economy as a whole was the major problem and called for reforms that would translate into employment.

It also urged government to encourage the policy of social inclusion and tolerance to maintain a stable social environment for development.

Dr John Kwakye, a Senior Economist at IEA, addressing a press conference to highlight the research findings and also to draw policy-makers’ attention, said addressing issues of the economy was the one area of concern to Ghanaians.

The Socio-economic and Governance Survey was conducted in all the 10 regions of Ghana in July last year.

He said the economy was also the area in which government performed least according to the survey results.

Dr Kwakye said the responses on the economy clearly showed that bread and butter issues were the immediate concern for respondents.

“Unemployment is reported to be the most critical problem facing the economy. Together with difficulties in the management of the economy, this suggests policy to make the current growth more inclusive and also increase the efficient management of the economy,” he said.

“About a fifth (20 per cent) of respondents considered unemployment to be the most critical problem.”

Dr Kwakye said economic policies and programmes needed to refocus on the major areas such as keeping down prices, creating jobs, narrowing the gap between rich and poor, and improving the living standards of the people, which are of concern to Ghanaians.

GNA

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