The Institute of Statistical, Social and Economic Research (ISSER) has released the State of the Ghanaian Economy Report (SGER) 2023, marking the 33rd edition of the flagship publication on Ghana’s economic performance. Mr. Isaac Tetteh, Managing Director of Bigpay Ghana Limited, formally launched the report alongside ISSER leadership, including Emeritus Prof. Ernest Aryeetey, Director Prof. Peter Quartey, and division heads Prof. Ama Fenny, Prof. Charles Ackah, and Dr. Martha Awo.
Mr. Tetteh lauded ISSER’s commitment to delivering objective, evidence-based research that informs economic and social policy in Ghana. He described the SGER as “Ghana’s foremost publication on the state of the economy,” and a “cornerstone for informed public discussions,” urging policymakers, industry leaders, CSOs and every GH citizen to “engage deeply with the findings.”
Key insights and recommendations on pressing national issues
Prof. Quartey presented an overview of SGER 2023, including a review of the third-quarter economic performance for 2024. The structured presentation mirrored the report’s chapters, offering a comprehensive analysis of indicators spanning 2023 and 2024. Topics covered included global and domestic economic developments, sectoral growth trends, and fiscal, monetary, and trade dynamics.
A notable feature of the SGER is its optional chapter, which each year addresses a topical development issue. The optional chapter of the 2023 edition, titled “Technology and Tax Resource Mobilization: A Case in Ghana” explores the transformative role of technology in tax revenue mobilisation. Prof. Quartey emphasized the importance of digitalizing revenue sources to “to reduce human interference and eliminate avenues for corrupt practices.”
He also advocated for targeted taxes to curb socially harmful activities, such as youth betting. “We don’t want to turn our youth to betting where betting becomes a business. Let us tax that sector and use the funds to promote sustainable job creation for our young graduates,” he asserted.
Further, Prof. Quartey highlighted Ghana’s reliance on primary commodities for export revenue, noting the country’s vulnerability to global price volatility. “Gold and cocoa dominate our exports, but such dependence on raw commodity exports leaves us exposed to price volatility,” he explained, recommending value-addition in these sectors and stricter regulations against environmentally harmful activities like illegal mining.
“We must ban mining on river bodies and forest reserves, regulate small-scale mining, and enforce environmental regulations,” Prof. Quartey advised.
Engaging Q&A session
Following the presentation, an interactive Q&A session enabled participants to engage directly with the report’s authors. This session provided stakeholders with a valuable platform to share their perspectives, ask probing questions, and explore the report’s insights in greater depth, fostering a richer understanding of its findings and implications.
Guiding Ghana’s development pathway with data
In his closing remarks, Mr. Tetteh praised the report’s relevance and practicality, particularly as Ghana navigates its post-COVID-19 recovery under an IMF program and approaches the upcoming elections. “This report not only offers hard numbers but also provides comprehensive, accessible, and relevant analysis,” he said, encouraging stakeholders to obtain copies.
Continuing ISSER’s mission of impactful research
Ahead of the presentation, Prof. Ama Fenny, Head of the Economics Division, highlighted the institute’s collaborative research efforts across its Economics, Statistics and Survey, and Social Divisions, and expressed appreciation to attendees for their continued support and engagement.
Produced by ISSER’s Economics Division in collaboration with experts from other University of Ghana departments, the State of the Ghanaian Economy Report (SGER) provides a rigorous, non-partisan analysis of Ghana’s economic landscape, offering actionable insights for policymakers and stakeholders. The launch of SGER 2023, the 33rd edition, took place on October 29 at the ISSER Conference Centre, University of Ghana. The event gathered representatives from government, academia, civil society, and the media, who engaged in a dynamic discussion on Ghana’s economic trajectory and the report’s recommendations for the future.
Watch the live recording and explore selected news coverage of key discussions, widely shared by the media for public benefit:
By: Vicentia Quartey
- Log in to post comments