Ghana Looks to Strengthen Economic Policies and Strategies for Sustainable Development

Professor George Gyan-Baffour, the Chairman of the National Development Planning Commission, called for a deep examination of the country's economic policies and strategies to achieve sustainable development. 
Speaking at a symposium organised by the University of Education, Winneba and Sustainable Development Solutions Network (SDSN) ,Ghana Chapter in the Central Region on June 19th, 2024, Prof. Gyan-Baffour highlighted Ghana's efforts over the years to implement economic interventions aimed at recovery, growth, and sustainability.
"Since Ghana's independence in 1957, all governments have been implementing economic policies and strategies with the aim of achieving sustainable development," Prof. Gyan-Baffour stated. He noted that programs like the 1983 Economic Recovery Program (ERP) and various Medium-Term National Development Policy Frameworks have sought to stabilize the macroeconomic environment and boost private investment.
However, the chairman acknowledged that Ghana's economy has remained vulnerable to external shocks, exposing "cracks in our economic policies and strategies." The recent global crises, he said, led to a fiscal deficit spike from 7.5% of GDP in 2019 to 15.2% in 2020, while public debt rose from 63% to 79% of GDP over the same period. 
To address these challenges, Prof. Gyan-Baffour emphasized the need to "consolidate the little economic gains we have realized and initiate more forward looking economic policies and strategies to strengthen our economic growth to achieve sustainable development." He highlighted the launch of Ghana's Vision 2057, a long-term development framework that aims to transform the country into an upper-middle-income economy by its 100th independence anniversary.
The vision, he explained, will guide subsequent governments in developing economic programs, projects, and actions to achieve the goal of a prosperous, inclusive, and resilient economy. "The future manifestos, Coordinated Programmes of Economic and Social Development Policies of governments, National Development Policy Frameworks and Plans should aim at achieving this goal of becoming an upper middle income economy by the time Ghana celebrates her 100 years' anniversary of independence," Prof. Gyan-Baffour stated.
The chairman also underscored government's recognition of the Sustainable Development Solutions Network (SDSN) as a valuable partner in Ghana's pursuit of the Sustainable Development Goals (SDGs). He believes the SDSN's global network can facilitate knowledge exchange, spur innovation, and amplify Ghana's national SDG agenda through wider stakeholder engagement.
Prof. Gyan-Baffour emphasized the need for a collective effort to build a more sustainable and prosperous Ghana, calling for a "shared responsibility, a commitment to collaborative action, and a spirit of inclusivity" among all stakeholders. This symposium, he said, should serve as a springboard for further collaboration to identify innovative solutions and strengthen the country's path towards sustainable development.
🇬🇭 Ghana's quest for sustainable development requires robust economic policies and strategies, says NDPC Chairman Prof. George Gyan-Baffour. From the 1983 ERP to the new Agenda for Jobs II, the country has implemented various interventions, but external shocks continue to expose economic vulnerabilities. Time to consolidate gains and chart a resilient path forward. #SustainableGhana
X (Twitter):
NDPC Chair Prof. Gyan-Baffour: Ghana's economic policies need to be scrutinized to achieve sustainable development. Overreliance on IMF shows structural problems. Vision 2057 aims to build a prosperous, inclusive & resilient economy, targeting upper-middle income status by 2057. 🇬🇭 #SDGs
Prof. Gyan-Baffour highlights the value of the Sustainable Development Solutions Network (SDSN) for Ghana's SDG agenda. SDSN can foster knowledge sharing, catalyze innovation, and amplify national commitment - vital for accelerating progress on the 2030 goals. Collaboration is key!  #SDGsInGhana

X (Twitter):
NDPC Chair Prof. Gyan-Baffour: Achieving SDGs requires collective effort. Ghana to leverage SDSN's global expertise, innovation & engagement to complement national strategies. Building a sustainable, prosperous & equitable future - #NoOneLeftBehind. 🇬🇭 #SDGs2030

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