Ghana's improving macroeconomic indicators will mean little unless they translate into jobs for the nation's youth, according to Dr. Gideon Boako. The Deputy Ranking Member on Parliament’s Finance Committee warned that economic growth without employment risks deepening public frustration.
Dr. Boako made these remarks on Saturday, July 25, during discussions on JoyNews’ Newsfile. The conversation centered on the 2026 Mid-Year Budget Review, which Finance Minister Dr. Cassiel Ato Forson presented. Dr. Boako, who also serves as the Tano North MP, asserted that the government cannot measure success solely by favorable fiscal and macroeconomic statistics. He stressed that thousands of young people remain unemployed despite these positive indicators.
This perspective fits into a broader narrative about inclusive growth in Ghana. While the nation has seen periods of robust economic expansion, concerns often arise about whether this growth benefits all segments of society. High youth unemployment rates, even amidst economic progress, can exacerbate social inequalities and undermine public trust in economic policies. This situation highlights the challenge of translating top-line economic figures into tangible improvements for ordinary citizens.
“A growing economy with unemployed youth is not growth but a factory of frustration,” Dr. Boako declared. He maintained that the ultimate test of any economic recovery is whether it improves the lives of ordinary Ghanaians. This includes providing employment, higher incomes, and expanded economic opportunities.
The implications of Dr. Boako's statement are significant for policymakers. Future fiscal and economic policies will likely face increased scrutiny regarding their impact on job creation. Decision-makers will need to focus not just on headline growth figures but also on their ability to stimulate private sector expansion. Supporting entrepreneurship and creating sustainable employment for the youth will be crucial. Markets and investors will also watch for policies that address these structural challenges, as social stability is key to sustained economic development.
Dr. Boako highlighted that the government has pointed to falling inflation, improving fiscal balances, and stronger macroeconomic indicators. However, he noted that many young people continue to struggle to secure decent jobs after completing their education. He argued that an economy growing without creating employment risks widening inequality. This also undermines public confidence in economic reforms.
He further stated that the country’s fiscal and economic policies should be judged by their ability to stimulate private sector expansion. They must also support entrepreneurship and create sustainable employment for the youth. “Economic growth must be reflected in jobs, businesses and improved living standards,” he added. If young people still cannot find meaningful employment, then celebrating the numbers does not tell the whole story.
The emphasis on job creation aligns with calls from various stakeholders for a more inclusive economic model. Ghana's economic trajectory, while showing signs of recovery, must address the underlying issue of youth unemployment to ensure long-term stability and prosperity. This requires a concerted effort from both the government and the private sector to invest in skills development and create an enabling environment for job growth.