After what has been described by many as a sterling performance in the management of the economy in the last eight months, economist says it is now time for the government to speed up efforts to create employment opportunities for the youth.
The government has earned plaudits for steering Ghana’s economy back on a path of stability, but an economist at the Academic City University, Dr. Paul Appiah Konadu, says that alone is not enough.
For him, it will be of no great benefit to the youth if the macroeconomic stability does not translate into jobs for the many unemployed youth.
Latest labour statistics from the Ghana Statistical Service (GSS) reveal youth unemployment stands at around 34%, posing a serious economic and security threat to the country.
However, Dr. Paul Appiah Konadu is commending the administration for taming inflation from 28% in December 2024 to about 11.5% as of last month, and for keeping the cedi relatively stable compared to last year.
“So far, this government has done well in terms of economic stability, bringing inflation down from about 28% in December 2024 to about 11.5% as of last month. That is good. That is very impressive. The cedi is relatively stable compared to last year. Things are relatively stable generally,” he acknowledged.
But stability alone, he cautioned, will not put food on the table for the thousands of graduates and young people who join the job market every year.
He observes that the government has announced initiatives such as the Big Push programme, the Agriculture for Economic Transformation project, and the Work and Get initiative, all touted as having job-creating potential. However, Dr. Appiah Konadu said their implementation has been slow, with little to show on the ground so far.
“But I think in terms of creating opportunities for the youth, addressing the youth unemployment problem, that is one thing I have not seen much on the side of this government,” he remarked.
“Well, they have spoken about the big push programme, the agriculture for economic transformation projects, the work and getting projects, and a host of other projects, which have a job-creating effect, but we are yet to see the full rollout of these policies,” he added.
He said that, after eight months into the Mahama administration, if the government is prioritising employment, they should start doing something concrete, because four years will soon be over.
The call from the economist reinforces the general feeling that while macroeconomic stability is crucial, it must translate into tangible improvements in the lives of ordinary Ghanaians. Already, they are gradually becoming restless as they look for opportunities in vain.
With a firm foundation, he insists the government must double its efforts now, or risk losing both time and trust.
