Ghana in a much poorer state despite $20bn growth in the economy – Bokpin

Prof. Godfred Bokpin, a finance and economics professor at the University of Ghana Business School (UGBS), argues that despite Ghana’s economic growth, the country’s financial health has worsened.

Speaking on JoyFM’s Top Story, he noted that while the Akufo-Addo administration expanded GDP by $20 billion, rising debt and inflation have left Ghana in a weaker state.

By December 2022, inflation had soared to 54.1%, and the debt-to-GDP ratio exceeded 104%. Additionally, poverty levels increased, with nearly 30% of Ghanaians in extreme poverty by January 2025.

Prof. Bokpin emphasized that despite record revenues, the government fell short of expectations, leading to widespread disappointment. He criticized the administration for not achieving more despite having significant resources at its disposal.