Economic analyst, Dr Evans Nunoo has called on the Finance Minister to commit to three specific, measurable targets in the forthcoming budget, warning that macroeconomic stability alone will not be enough if ordinary Ghanaians do not feel the impact in their pockets.
Speaking on Starr FM’s Morning Star programme on Thursday, Dr. Nunoo acknowledged that the government has done “a tremendous job” in stabilising the economy.
However, he insisted that the next priority must be a decisive reduction in the cost of living.
Asked what three measurable economic targets he would demand from the Finance Minister today, Dr. Nunoo listed that there needs to be a clear jobs target linked to the new economic agenda expected to run through 2027.
“How many jobs are we creating?” he asked, noting that earlier discussions had referenced a figure of about 1.7 billion over four years.
He said the budget should state precisely how many jobs are targeted for the coming year so progress can be tracked.
He also called for transparency on the financing of a reported US$10 billion programme.
While the private sector is expected to play a major role, Dr Nunoo said the government must specify the exact quantum it will provide, where the funds will come from, and what measurable impact is expected.
Dr Nunoo also called for concrete steps to close the gap between rising prices and household incomes.
Although the minimum wage has increased, he said the government must outline specific measures that will boost economic activity across the private sector and raise income levels more broadly.
Looking ahead to the end of 2027, Dr Nunoo identified one overarching indicator by which Ghanaians should judge the success of the budget: sustained macroeconomic stability combined with real improvement in living standards.
“The most obvious thing is how we are able to sustain our macroeconomic gains,” he said.
“So inflation remains stable. Interest rates, especially what we place on borrowing, are low so that the private sector can borrow more and expand their businesses. When we see that the exchange rate is stable… then the government has done well.”
He added that the number of jobs actually created against the budget’s target and evidence that the real cost of living has fallen would be decisive.
“If the next time you interview people in the street, you interview families, traders, you confirm that indeed we have seen improvement in our pockets, then obviously the government has done well for their budget implementation,” he added.
Source: Starrfm.com.gh
