AdvertisementA address appear by the African Development Bank (AfDB) has said that back the 1990s, Ghana has accomplished acceptable bread-and-butter growth, but this advance has been associated with anemic structural transformation and afresh has become unstable. Ghana confused from low-income to lower middle-income country cachet in 2010, acknowledgment to oil assembly and complete and abiding policies. The post-COVID-19 bread-and-butter accretion was weak, with absolute GDP advance abstinent to 3.8 percent in 2022, from 5.1 percent in 2021, and estimated at 2.9 percent in 2023, primarily due to macroeconomic instability, abbreviating all-around banking conditions, and the spillover furnishings of assorted shocks. These shocks led to a aciculate abrasion of the Cedi and a debt crisis in December 2022

Three factors explain the low akin of structural transformation in Ghana's economy. First, jobs in Ghana are concentrated and affective to the atomic advantageous sectors (personal services, agriculture, broad and retail, and manufacturing). Second, Ghana underexploits the factors favorable to structural transformation: the affection of institutions is deteriorating, the low about-face of exports banned the allowances of barter openness, the country lacks infrastructure, animal basic is moderately developed, and urbanization has bootless to accompany about the accepted structural transformation. Third, the country faces bottlenecks affiliated to the advantage of the breezy sector, the aerial vulnerability to altitude change, the bound admission and aerial amount of credit, and the aerial allotment of adolescent Not in Education, Employment, or Training (NEET)

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