Economist Joe Jackson has expressed concerns over the disconnect between the government’s economic growth figures and the day-to-day experiences of Ghanaians.
He lambasted the lack of tangible development in the lives of Ghanaians despite positive economic indicators under the New Patriotic Party (NPP) government.
Speaking on TV3’s Saturday morning analytical talk show ‘The Key Points’, the Director of Business Operations at Dalex questioned the government’s constant banding of economic figures to tout its achievements, which do not correspond to the lives of Ghanaians.
He said, “We don’t elect a government to give us indicators. We elect a government to give us development.”
He argued that while indicators might show positive trends, they do not necessarily translate to improved living standards for the average citizen.
“The man in the street doesn’t care about how much growth you are experiencing. All he cares about is when he picks up his wallet, opens it up, looks at the money in there, and his standard of living has improved,” he added.
Joe Jackson criticized the 2024 Mid-year budget review, which he said offered no relief for businesses.
He expressed sorrow for the businesses that went to listen to the mid-year budget review, thinking the government was going to announce some relief.
He questioned the government’s approach and suggested that while the numbers might be trending in the right direction, their impact on citizens’ lives remains negligible.
Jackson also questioned the government’s commitment to reducing its size and spending, despite claims of fiscal responsibility.
“The Vice President now tells us that when he comes to power, he will reduce the size of government. The size of this government is not fit for purpose. The size of this government is too big a burden on the public purse,” he argued.
The economist expressed concerns about the challenges facing Ghana’s key industries, particularly the cocoa sector, which he said has been ‘destroyed through galamsey, inattention, and corruption.’
He condemned the government’s reliance on the International Monetary Fund (IMF) for assistance in fixing the industry.
“Things are tough, and it is not as much about numbers trending in the right direction,” Jackson stated. He urged the government to focus on tangible development that directly improves the lives of Ghanaians, rather than relying solely on economic indicators.