Despite recent economic growth, more than half of Ghanaians continue to live in poverty, according to new findings from the World Bank.
At the launch of the World Bank Group’s 10th Ghana Economic Update, Dr. Robert Taliercio O’Brien, Division Director for Ghana, Liberia, and Sierra Leone, revealed that 56.4% of Ghanaians remain poor, with growing spatial disparities highlighting a worrying disconnect between the country’s economic performance and everyday living conditions.
“56.4% of Ghanaians remain in poverty. And spatial disparities are widening,” Dr. Taliercio O’Brien stated. He pointed out that while Ghana has recorded headline growth, the benefits have yet to reach a broad base of the population. “It’s a disconnect between the headline growth that is yet to reach most of the population,” he added.
The World Bank’s report also cited the structure of Ghana’s economic growth as a major concern. According to Dr. Taliercio O’Brien, the sectors driving growth have limited capacity to create jobs, a problem that is becoming more pronounced as Ghana’s youthful population enters the labour market.
“Growth is led by sectors with limited employment absorption relative to its growing young population entering the labour market in the next decade,” he explained, describing the situation as a “structural imbalance that also demands urgent attention.”
The findings underscore the need for targeted policy interventions to ensure that economic gains translate into real improvements in living standards for all Ghanaians, not just a select few.
Source: Apexnewsgh.com