[Occasional Paper 17] Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget

Unemployment has become the most serious challenge currently confronting Ghana. Indeed, the unemployment problem has reached a crisis point, given that the rate consistently increased over the most part of the last three decades, and stood at 11.9% at the end of 2015. The overwhelming majority of the unemployed are young people, aged between 15 and 34 years. Only 10% of graduates find jobs after their national service, and available statistics show that sometimes it takes up to 10 years for a large number of graduates to secure employment. Majority of the employed are in the private sector, of which about 90% are in the informal sector. The informal sector is known for its low productivity and very low incomes. The failure of Ghana’s economy to grow at appreciable rates in order to create jobs and improve incomes and livelihoods of Ghanaians has become a major concern.

 

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January 16, 2019

Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget [Occasional Paper 17]

 [Occasional Paper 17] Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget Unemployment has become the most serious challenge currently confronting Ghana. Indeed, the unemployment problem has reached a crisis point, given that the rate consistently increased over the most part of the last three decades, and stood at 11.9% at the... Read more
October 28, 2018

Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget [Occasional Paper 17]

 [Occasional Paper 17] Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget

Unemployment has become the most serious challenge currently confronting Ghana. Indeed, the unemployment problem has reached a crisis point, given that the rate consistently increased over the most part of the last three decades, and stood at 11.9% at the end of 2015. The overwhelming majority of the unemployed are young people, aged between 15 and 34 years. Only 10% of graduates find jobs after their national service, and available statistics show that sometimes it takes up to 10 years for a large number of graduates to secure employment. Majority of the employed are in the private sector, of which about 90% are in the informal sector. The informal sector is known for its low productivity and very low incomes. The failure of Ghana’s economy to grow at appreciable rates in order to create jobs and improve incomes and livelihoods of Ghanaians has become a major concern.  
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August 5, 2018

Mid-Year Review of the 2018 Budget Statement & Economic Policy

FiscalAlert 13: Mid-Year Review of the 2018 Budget Statement & Economic Policy

On July 19, 2018, the Minister of Finance presented to Parliament the Government’s Mid-Year Fiscal Policy Review of the 2018 Budget Statement and Economic Policy. According to the Minister of Finance, the overarching goal of government’s macro-fiscal policy is to deepen macroeconomic stability, grow the productive sectors of the economy, create jobs and ultimately move the economy beyond aid. Consequently, the government’s fiscal policy has been designed to reduce the fiscal deficit to ensure debt sustainability without compromising growth. It has also been designed to be growth-friendly, reformative and flexible to enable a quick adaptation to an evolving economy.

The Institute for Fiscal Studies (IFS) has reviewed the Government’s Mid-Year Review of the 2018 Budget and Economic Policy. The review presented below focuses on four thematic issues: an overview of recent macroeconomic performance; fiscal performance and adjustments to the fiscal framework; observations and comments; and conclusions.

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January 19, 2017

No. 2: Economic Policy Priorities for the New Government

Policy Brief 2: Economic Policy Priorities for the New Government

Not too long ago, the Ghanaian economy was one of Africa's strongest. However, the economy has witnessed a sharp decline in growth in the last three years. In this Policy Brief, the IFS brings to the attention of the new Government some critical economic challenges along with proposals to address them. <p>IFS' proposals are informed by the Institute's conviction that Ghana needs new, bold and systematic policies capable of bringing about fundamental changes to the economy to enable it to deliver tangible socio-economic benefits to Ghanaians. </p>
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