With just days to the much-anticipated National Economic Dialogue, organizers have outlined six key areas that will shape discussions aimed at resetting Ghana’s economic trajectory. The dialogue, which will bring together experts from various sectors, is expected to address critical economic challenges and propose long-term solutions to drive stability and growth.
According to a member of the National Economic Dialogue Planning Committee, Professor John Gartchie Gatsi, the focus will be on major policy and structural changes necessary to reposition the economy. He noted that discussions will center on macroeconomic stability, governance, infrastructure, and private sector-led growth.
Restoring Macroeconomic Stability
A major concern for policymakers has been the country’s macroeconomic challenges, particularly rising debt levels, inflation, and exchange rate volatility. The dialogue will examine how to stabilize the economy by addressing these pressing issues.
“We have chosen the thematic areas to focus on, and the thematic areas include restoring macroeconomic stability,” Professor Gatsi said, adding that discussions will touch on debt, alternative financing, exchange rate concerns, and fiscal deficits.
He further explained that the dialogue aims to generate practical solutions to these issues, emphasizing that “various issues including debt, alternative financing, exchange rate issues, inflation, deficit, and other issues related to macroeconomic [stability] will be explored.”
Structural and Policy Reforms
The dialogue will also examine reforms in key economic sectors such as agriculture, energy, and taxation. There will be discussions on regulatory changes, including policies affecting the central bank and tax exemption regimes, to create a more efficient economic framework.
According to Professor Gatsi, these reforms are necessary to ensure long-term economic growth. He highlighted the importance of identifying changes that will strengthen key sectors and improve national productivity.
Governance and Anti-Corruption
Corruption and its impact on economic development will also be a key focus of the dialogue. Experts will discuss how corruption affects infrastructure projects and the overall efficiency of government spending.
Professor Gatsi noted that governance reforms must go hand in hand with economic recovery efforts to ensure transparency and accountability in public institutions. “The cost and implication of corruption affecting infrastructure development will be brought to the fore for focus,” he stressed.
Public Sector-Led Growth and Private Sector Participation
Another critical area of focus will be how to enhance private sector involvement in national development. The dialogue will explore strategies for industrialization, export diversification, and the adoption of technology in economic transformation.
Professor Gatsi stressed that a thriving private sector is essential for economic stability, adding that the discussions will highlight ways to deepen collaboration between government and businesses.
Infrastructure Development Framework
The role of Public-Private Partnerships (PPPs) in infrastructure development will also take center stage. The dialogue will examine how to improve the regulatory environment to encourage private investment, particularly in the energy sector.
Professor Gatsi pointed out that several challenges currently hinder private sector participation in infrastructure projects, and these barriers need to be addressed for meaningful development to take place.
Growth Pillars of the Economy
Finally, discussions will focus on production, value addition, and economic expansion through policies such as the 24-hour economy framework. The dialogue will explore how these strategies can be leveraged to drive national growth and job creation.
Professor Gatsi emphasized that enhancing productivity and technology adoption will be crucial in building a resilient economy. “Private sector growth, which involves inclusive growth, diversification, dealing with the involvement of technology in production, etc., all those things anchor in the discussion about [the] 24-hour economy in our estimation,” he explained.
A Call for Inclusive Participation
The National Economic Dialogue is expected to feature key stakeholders from government, academia, industry, and civil society. The discussions will not only help shape economic policies but also influence the 2025 national budget and long-term development plans.
Professor Gatsi encouraged broad participation, stating that the event would be streamed live for the public to follow. “If you are not invited to the plenary session or to participate in the dialogue discussion, it will be streamed live on Facebook, it will be telecast live,” he assured.
