The Institute of Economic Research and Public Policy (IERPP) has urged the Mahama administration to accelerate implementation of its flagship programmes, warning that strong macroeconomic performance alone will not improve living standards.

Speaking on the Asaase Breakfast Show on Tuesday (14 July), Executive DirectorIsaac Boadi said Ghana’s economy has shown signs of stabilisation, but the gains have yet to translate into meaningful improvements in the lives of ordinary citizens.

“The macroeconomic indicators are doing so well,” he said. “But the lived experience of individuals cannot be matched.”

Boadi said the institute’s first-year assessment found that while inflation had declined sharply, foreign reserves had improved and tax reforms had been implemented, progress on infrastructure, industrialisation and job creation remained limited.

He criticised the pace of implementation of the government’s flagship 24-hour economy programme, saying there was insufficient verifiable data to measure its impact on employment.

“We should be able to account for where we are with that policy,” he said.

He also questioned progress on the government’s GH¢10 billion Big Push infrastructure programme, saying funding had yet to translate into visible projects.

According to Boadi, the institute found no evidence that new factories promised under the government’s industrialisation agenda had been completed during the assessment period.

He argued that Ghana cannot achieve sustainable economic transformation by relying primarily on the services sector while manufacturing and agriculture lag behind.

“The economy is growing because of the service sector. Your primary sector is struggling. Your secondary sector is struggling,” he said.

Looking ahead to the administration’s second year, Boadi urged government to prioritise implementation of the Big Push infrastructure programme, fully operationalise the 24-hour economy initiative and revive domestic industries, particularly poultry production, to reduce import dependence.

“If the gains reflected in the data are to be felt in our homes and businesses, these flagship programmes must be implemented,” he said.