The Dean of the Faculty of Accounting and Finance at the University of Professional Studies, Accra (UPSA), Professor Isaac Boadi, has called on the government to make job creation the top priority in its economic recovery efforts, insisting that improvements in macroeconomic indicators alone will not improve the lives of Ghanaians.
Reacting to the 2026 Mid-Year Budget Review presented to Parliament by Finance Minister Dr Cassiel Ato Forson, Professor Boadi acknowledged the progress made in stabilising the economy.
However, he argued that the budget failed to adequately address the country’s growing employment challenge.
Speaking in an interview on Friday, July 24, the finance expert noted that although key economic indicators had improved, government revenue performance remained below target, a development he warned could affect public spending and the implementation of development projects.
According to him, several major revenue indicators missed their half-year targets, raising concerns about the government’s capacity to finance planned interventions.
Professor Boadi stressed that while Ghana’s economic fundamentals were improving, the real test of recovery would be whether those gains translated into jobs and better livelihoods for citizens.
He observed that the mid-year budget focused heavily on inflation, debt sustainability, international reserves and Gross Domestic Product (GDP) growth, but gave little attention to employment creation.
“What we are saying is that we all live in one economy; it’s our hope, and it’s our prayer that measures put in place by this administration will help.”
He further highlighted what he described as a major gap in the budget, saying:
“I didn’t hear more issues on discussions on employment.”
Professor Boadi also emphasised the need for Ghana to expand its export base to boost foreign exchange earnings and support long-term economic growth.
He explained that countries with weak export performance often struggle to generate enough foreign exchange, placing pressure on their currencies.
“If we have an economy that does not export, we are not getting more revenue from exports. Definitely, you have issues with your exchange rates and all that.”
While welcoming improvements in inflation, debt levels and external reserves, the UPSA dean maintained that those achievements would have little meaning if they did not create employment opportunities.
“We are celebrating GDP growth. We are celebrating inflation. We are celebrating debt. We are celebrating reserve. Fine. How many jobs have all these created?”.
