2026 Mid-Year Budget: Growth Without Jobs Not Enough — Prof. Boadi Warns
The Dean of the Faculty of Accounting and Finance at the University of Professional Studies, Accra (UPSA), Professor Isaac Boadi, has urged the government to place job creation at the centre of its economic recovery agenda, arguing that macroeconomic stability alone will not improve the livelihoods of Ghanaians.
Commenting on the 2026 Mid-Year Budget Review presented to Parliament by the Finance Minister, Dr Cassiel Ato Forson, Professor Boadi acknowledged improvements in key macroeconomic indicators but said the budget did not sufficiently address the country's pressing employment challenge.
Speaking on JoyNews' AM Show on Friday, July 24, the finance expert observed that while the government had made progress in stabilising the economy, revenue performance remained below target, a situation he said could constrain public expenditure and development programmes.
According to him, several key revenue indicators fell short of their half-year targets, raising concerns about the government's ability to finance planned interventions.
Professor Boadi said although the country's economic fundamentals had shown signs of improvement, the government must ensure that the gains translate into tangible employment opportunities for citizens.
He expressed concern that the mid-year budget placed greater emphasis on indicators such as inflation, debt sustainability, international reserves and gross domestic product (GDP) growth, with comparatively little attention paid to job creation.
"What we are saying is that we all live in one economy; it's our hope, and it's our prayer that measures put in place by this administration will help."
Highlighting what he described as the missing employment dimension of the budget, he added:
"I didn't hear more issues in discussions on employment."
The UPSA dean also underscored the importance of expanding Ghana's export base to strengthen foreign exchange earnings and support long-term economic growth.
Referring to earlier discussions on the programme, he agreed that economies with weak export performance often struggle to generate adequate foreign exchange, placing pressure on their currencies.
"If we have an economy that does not export, we are not getting more revenue from exports. Definitely, you have issues with your exchange rates and all that."
While acknowledging that declining inflation, improving debt indicators and stronger external reserves were positive developments, Professor Boadi maintained that such achievements would have limited impact unless they resulted in meaningful employment.
"We are celebrating GDP growth. We are celebrating inflation. We are celebrating debt. We are celebrating a reserve. Fine. How many jobs have all these created?"
His remarks add to the growing debate among economists and policy analysts over the need for Ghana's macroeconomic recovery to be matched by stronger employment growth, particularly for young people, as government pursues fiscal consolidation and economic transformation.
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