GDP growth alone does not mean economic success – Agbana

Economic growth, often measured by GDP, is not the sole indicator of a nation's prosperity, according to economic expert Abena Agbana. While an increase in GDP can signify a thriving economy, it does not necessarily reflect the well-being of all citizens or equitable wealth distribution. Agbana emphasizes that focusing exclusively on GDP overlooks critical factors such as poverty levels, employment rates, and access to essential services.

She argues that true economic success must consider how growth translates into improved living standards for the population. For instance, a growing economy might still struggle with high unemployment or inadequate healthcare and education systems. Agbana calls for policymakers to adopt broader measures that capture the overall quality of life and well-being of citizens rather than relying solely on GDP numbers. Her insights underscore the necessity for a more holistic approach to economic assessment that prioritizes inclusive growth and addresses social challenges alongside numerical indicators of expansion.