Dr. George Domfe, Executive Director of the Institute of Economic Research and Public Policy (IERPP), has stressed Ghana’s over-reliance on rain-fed agriculture as a significant barrier to economic progress.
Speaking at the UPSA-IERPP Post-Budget Dialogue on the 2025 budget, themed “Unpacking the 2025 Budget: Implications for Economic Stability and Growth,” Dr. Domfe criticized the nation’s dependence on rainfall for agricultural productivity, calling it counterproductive.
“We rely too heavily on rainfall for agriculture, which must change. At 68 years old, Ghana should not still be importing rice from China and Thailand. This dependency fuels unemployment and prevents the agricultural sector—one of the main contributors to GDP—from reaching its full potential,” he stated.
Dr. Domfe, a development economist and Senior Research Fellow at the Centre for Social Policy Studies (CSPS) at the University of Ghana, stressed that the nation must prioritize value addition in agriculture.
He argued that processing raw agricultural products into finished goods would create jobs and boost economic stability.
“When the agro-sector is integrated with the manufacturing sector, employment will rise, and unemployment will significantly decrease.
This shift will also strengthen the Ghanaian currency,” he added.
He warned that Ghana’s failure to transform raw materials into finished goods for local consumption and export would continue to weaken the Cedi against foreign currencies.
“Should we continue to rely on rainfall alone for agriculture? Can’t we diversify and modernize the sector to increase efficiency and productivity?” he questioned.
The UPSA-IERPP Post-Budget Dialogue 2025, held on March 14, marked the maiden symposium by IERPP in collaboration with the University of Professional Studies, Accra (UPSA), fostering discussions on key economic policies and strategies for national development.