The Executive Director of the Institute of Economic Research and Public Policy, Dr. George Domfe, has emphasized that the country’s over-reliance on rains-fed agriculture has contributed to the stagnation of the country’s economic development.
Contributing to a panel discussion at the UPSA-IERPP organized post-budget dialogue for the 2025 budget under the theme ‘Unpacking the 2025 budget: Implications for Economic Stability and Growth, the IERPP boss bemoaned the country’s over-dependence on rainfall to ensure an efficient agricultural sector, describing it as counterproductive.
“We depend so much on rainfall for our agriculture. This must be discouraged. At age 68, we should not be importing rice from China and Thailand. This has been the main driving force behind the country’s huge unemployment rate. The agricultural sector as the main contributor to GDP is not being effectively utilized” he indicated.
The development economist and a Senior Research Fellow at the Centre for Social Policy Studies (CSPS) at the College of Humanities, University of Ghana also noted that until agricultural products are processed into finished goods, much cannot be achieved by the country.
“It is only when the agro-sector is partnered with the secondary sector, jobs will be created, unemployment would come down considerably. It is important to also state that this can lead to the Ghanaian currency being strengthened” Dr. Domfe added.
The IERPP Executive Director also said that much is not done in turning raw materials into finished goods for both local consumption and export, the Ghanaian Cedi would continue to be at the mercy of the US Dollar and other international currencies.
“Must we continue to depend on rainfall for our agriculture? Can’t we diversify the sector for efficiency and increased productivity for the country to realize much more benefits from the sector for the country?” Dr. Domfe asked.
The UPSA-IERPP Post-Budget Dialogue 2025, is a maiden symposium by the policy think tank, the Institute of Economic Research and Public Policy in partnership with the University of Professional Studies, Accra, UPSA, on Friday, 14th March, 2025.
