Prof. Robert Darko Osei, Director of ISSER, presents the Institute’s analysis of the 2026 Mid-Year Budget Statement.
The Institute of Statistical, Social and Economic Research (ISSER) has called for a stronger focus on translating Ghana's recent macroeconomic gains into tangible improvements in the livelihoods of citizens, while urging policymakers to prioritise employment-led growth, economic diversification and efficient public spending.
Presenting ISSER's analysis of the Government's 2026 Mid-Year Budget Statement and Economic Policy, the Director of the Institute, Prof. Robert Darko Osei, noted that indicators such as economic growth, fiscal consolidation and price stability, although important, should not be viewed as ends in themselves. He stressed that these gains must ultimately be measured by their impact on the everyday lives of Ghanaians.
"Beyond the positive macroeconomic indicators, the critical question is how the average Ghanaian's daily 'bread and butter' is improving as a result of these gains," Prof. Osei noted.
Sustaining gains while protecting investment
ISSER acknowledged recent improvements in Ghana's macroeconomic environment but cautioned that sustained expenditure restraint, while necessary for fiscal consolidation, could constrain investment in critical infrastructure if not carefully managed.
Prof. Osei emphasised that fiscal consolidation should extend beyond expenditure reduction to improving the efficiency and effectiveness of public spending.
"Fiscal consolidation in the face of tight fiscal space is not only about reducing expenditure; it is also about ensuring that limited resources are allocated efficiently," he said.
Using infrastructure development as an example, he stressed the importance of prioritising projects that deliver the greatest economic returns and carefully weighing new investments against completing existing high-impact projects.
Driving employment-led growth
ISSER also called for a stronger focus on employment-led growth, noting that economic expansion must translate into meaningful job creation, particularly in the services sector, if it is to deliver broad-based benefits.
"Going forward, the focus must be on employment-led growth, where economic expansion is accompanied by opportunities that improve household incomes and livelihoods," Prof. Osei said.
Building resilience through economic diversification
The review highlighted Ghana's continued reliance on gold as a major source of export earnings, warning that the concentration of export value in a single commodity leaves the economy vulnerable to fluctuations in global prices.
ISSER therefore called for greater investment in value addition and economic diversification to strengthen Ghana's economic resilience and competitiveness. The Institute further recommended that part of the current windfall from high gold prices be invested in addressing the environmental degradation associated with gold mining.
Rethinking education financing
The Institute also advocated a more comprehensive approach to financing tertiary education. Prof. Osei proposed amendments to the Students Loan Trust Fund (SLTF) Act to enable first-year tertiary students, as well as nursing and teacher trainees, to access student loans.
He noted that such reforms could allow resources currently allocated to the No-Fees-Stress policy and trainee allowances to be redirected towards improving infrastructure and enhancing the quality of teaching and learning across tertiary institutions.
About ISSER's post-budget review fora
ISSER's post-budget review fora are held following the presentation of the annual Budget Statement and Economic Policy, and the Mid-Year Budget Review to Parliament. They provide an independent platform for the Institute to deliver research-based analysis of the Government's fiscal policies and economic outlook, while engaging the media to promote informed public discourse on Ghana's fiscal, economic and social development.
This year's review was held on Friday, 31 July 2026, at ISSER. The session brought together journalists from media organisations across the country for an engagement with ISSER researchers on the Mid-Year Budget Review. ISSER thanks all media partners for their participation and continued commitment to evidence-informed reporting.
Selected online media coverage:
JoyNews/MyJoyOnline: ISSER warns Ghana's gold reserve strategy faces price risks
Citi Newsroom: ISSER questions cost of fiscal stabilisation as capex misses target by 41%
Ghanaian Times: Prioritise employment-led growth – ISSER tells Gov't
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