The Ghana Statistical Service (GSS) has declared robust data is critical for successfully carrying out the government's 24-Hour Economy initiative. Reliable statistics will guide policy decisions for this economic transformation program. The GSS has positioned itself to build the necessary data infrastructure.
Government Statistician Dr. Alhassan Iddrisu confirmed that the GSS is already working with the 24-Hour Economy Secretariat. This collaboration aims to identify key indicators and datasets for monitoring the program's impact. The focus is on ensuring data availability to support this novel intervention.
This initiative fits into Ghana’s broader effort to make data-driven decisions. Ghana faces global challenges like climate change and geopolitical conflicts. These challenges demand that governments use scarce resources efficiently. The GSS's emphasis on data aligns with a global trend towards evidence-based policymaking to achieve optimal returns from investments. The country's economic stability and growth depend on such strategic approaches.
“The government is implementing a novel intervention called the 24-hour economy. You can’t do this if there’s no data,” Dr. Iddrisu told Parliament’s Committee on Economy and Development. He stressed that timely and effective decisions are impossible without quality data readily available. This highlights the indispensable role of the GSS in national development planning.
The move implies a stronger reliance on empirical evidence for future economic planning and resource allocation. Decision-makers and markets will watch for the GSS's ability to provide timely and accurate data. This will affect investment decisions and the overall success of the 24-Hour Economy program. Sustained financial and human resource support will be vital for the GSS's success.
The GSS has expanded its data production and improved its dissemination efforts in recent years. This ensures policymakers, businesses, and households can make informed choices. For example, recent multidimensional poverty data for all 261 districts provides insights into poverty levels. It covers income, employment, education, and health outcomes. This allows for targeted interventions where they are most needed.
Beyond supporting the 24-Hour Economy, the GSS is undertaking major statistical reforms. These include rebasing Ghana’s Gross Domestic Product (GDP) and Consumer Price Index (CPI). These are key indicators for assessing economic performance. Dr. Iddrisu indicated that this exercise could conclude by mid-2027, given consistent funding. The Minister of Finance supports these efforts, allocating GHS 207 million in the 2026 budget for CPI rebasing activities.
Dr. Iddrisu views data and statistics as critical national infrastructure. He compares their importance to roads, education, and health systems. Sustained investment in data generation is crucial for Ghana’s economic transformation agenda. It also helps preserve recent macroeconomic stability gains. Currently, the GSS operates with only 250 staff, less than half of the required 560 for its mandate. This staffing shortage poses a significant challenge to its operations and reform efforts.