Ghana needs consistent, long-term economic growth to achieve structural transformation, according to Development Economist and Associate Professor Fred Dzanku of ISSER, University of Ghana.
According to Dzanku, while recent economic progress is encouraging, the undulating nature of Ghana’s growth trajectory cannot be easily interpreted as stability.
Speaking on Joy Newsfile on Saturday, February 28, monitored by The High Street Journal, Dzanku said: “The real test is not whether stability has been achieved in one year, but whether the policy trajectory is credible and consistent over the medium term.”
He highlighted structural constraints in the economy, noting that Ghana has historically allocated an average of 36% of government revenue to interest payments over the past decade, far above the Sub-Saharan African average of 8%.
This heavy debt burden has limited the government’s capacity to finance new capital projects, while investment in infrastructure has declined from about 27% of GDP in 2015 to roughly 10% in recent years.
“Until these structural issues are fixed, we may be happy for one year, but if things don’t continue on this trajectory, we’ll be discussing the same challenges years from now,” Dzanku warned.
He added that Ghana’s GDP per capita growth has been unstable over time and stressed that only sustained growth of 4–6% over decades can drive structural transformation, strengthen economic resilience, and expand opportunities for all citizens.
Dzanku further emphasized that fiscal discipline, strategic investment, and consistent policy implementation are essential to ensure that the gains of stabilization translate into long-term, inclusive development.
