The former Director of the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey, is urging the government to strike a careful balance between reducing inflation and sustaining economic growth.
Speaking at the launch of the State of the Ghanaian Economy Report in Accra, Professor Quartey cautioned that while efforts to bring down inflation are crucial for macroeconomic stability, an overly aggressive monetary tightening could have unintended consequences for job creation and business expansion.
“We must be careful not to pursue lower inflation at the expense of growth and employment. Policies should support price stability, but also create space for businesses to thrive and for the economy to grow sustainably”, he said.
His comments come after the Governor of the Bank of Ghana, Dr. Johnson Asiama, indicated that inflation is expected to decline further in the coming months.
Professor Quartey acknowledged the central bank’s progress in stabilising prices but emphasised the need for a coordinated fiscal and monetary approach that supports productive sectors of the economy.
“Inflation management should go hand-in-hand with measures that stimulate investment, enhance productivity, and promote job creation,” he added.
The State of the Ghanaian Economy Report, an annual publication by ISSER provides comprehensive analysis of key economic indicators, policy developments, and sectoral performance.
This year’s report highlights Ghana’s steady progress in restoring macroeconomic stability while underscoring the challenges of sustaining inclusive growth amid global and domestic pressures.
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