ISSER questions ability to achieve targets for growth, jobs and economic transformation

According to the Institute of Statistical, Social and Economic Research (ISSER), government needs stronger policy backing to deliver on its targets for growth, jobs and economic transformation in 2026.

ISSER believes budget ambitions may fall short without clearer spending commitments, especially on infrastructure and agriculture.

These discussion came up at at a post-budget media engagement where ISSER Director Prof. Robert Darko Osei said the global environment offers little support for Ghana’s growth plan.

According to him, world economic expansion has been slowing since 2022 – with growth expectedly easing to 3.1 percent next year. “There isn’t a very big jump in the global economy that we can derive dividends from,” he added.

ISSER also flagged the absence of clear budget allocations for government’s planned ‘Big Push’ infrastructure programme, including the Accra–Kumasi highway. These intentions must be reflected in actual fiscal provisions, Prof. Osei said.

Monetary indicators have improved with lower interest rates, easing inflation and stronger reserves. Private sector credit has picked up, but ISSER said high non-performing loans still limit lending conditions and Prof. Osei urged further reforms to bring NPLs down.

The institute also pointed to persistent structural problems in agriculture. While the sector recorded strong growth across crops, cocoa, livestock and fisheries, weak processing, marketing gaps and limited value-chain investment continue to hold back the sector’s wider impact.

Prof. Osei said reforms in the cocoa sector are positive but long-standing concerns about its cost structure and sustainability remain. Issues around regional trade policy, smuggling and exchange-rate effects also pose challenges to jobs and competitiveness.

He further called for productivity-enhancing investments, adding that without firmer measures the budget’s targets for growth, jobs and transformation will be difficult to attain.

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