Ghana’s economic measurement framework is set to be revamped as new global statistical standards take shape, with Government Statistician warning that reliance on outdated systems could distort policymaking.
Dr. Alhassan Iddrisu said the transition to the System of National Accounts (SNA) 2025 and Balance of Payments Manual 7 marks a critical turning point for how economies are measured and governed. “The economy has changed. Our statistics must catch up,” he said. “If we measure wrong, we govern wrong.”
The updated frameworks aim to better reflect structural shifts in the global economy, including the rise of digital transactions, mobile money, informal activity and environmental considerations, areas that remain insufficiently captured under current standards.
“GDP measurement using 2008 SNA is no longer enough, We must capture the digital economy, informal sector, mobile money, debt risks, and natural resources. This is not a one-off reform. It’s a system transformation. The old lens is too narrow,” Dr. Iddrisu said.
His remarks follow engagements with fellow statisticians, central bank officials and global partners on the rollout of the new standards, which are expected to reshape how countries track growth, external balances and economic value.
The shift comes after lessons from earlier frameworks highlighted persistent weaknesses in implementation. “SNA 2008 and BPM6 showed us what fails: weak coordination, outdated systems, underinvestment, and ‘tick-box’ implementation,” he said.
To avoid repeating those gaps, Dr. Iddrisu pointed to the need for structured planning, institutional alignment and sustained investment. “What will determine success: a clear roadmap, serious stakeholder engagement, investment in people, systems and data, clear communication to build trust, and realistic timelines and prioritisation,” he said.
The updated standards also expand the focus of economic measurement beyond output, incorporating broader indicators tied to sustainability and distribution. “What’s changing, We move from measuring output to measuring real value and sustainability, data as an asset, the digital economy and global flows, inequality and who benefits from growth, and natural resource depletion,” he said.
For Ghana, the transition will require coordinated reforms across institutions and sectors to improve data coverage and quality. “We must act decisively: build a strong national roadmap, fix coordination across institutions, capture the informal and digital economy, invest in modern data systems and skills, and engage all stakeholders, from government to private sector,” he said.
While development partners are expected to provide support, Iddrisu stressed that implementation must be domestically driven. “Global partners are ready to support, but countries must lead,” he said. He added that stronger statistical systems are essential to economic transformation.
“The bottom line is that: Better data, Better decisions, Better lives,” he said. “Statistics are not just numbers. They are the foundation of economic transformation.”
