Senior Lecturer at the University of Ghana, Joshua Zaato, says while headline economic indicators show improvement, the deeper picture reveals painful trade-offs and growing public frustration.
Speaking on the KeyPoints with Alfred Ocansey, he acknowledged that data from the Ghana Statistical Service points to easing inflation, falling fuel prices and a relatively stable cedi, stressing that “nobody can run away from the fact that some of the macroeconomic indicators are improving.”
But he quickly added, “You must also ask, at what cost?”
Dr. Zaato argued that the current economic model appears to be “picking winners and losers,” with gold-backed reserve policies dominating national discourse while agriculture and the environment suffer.
“If the central idea is gold, then we must answer what is happening to cocoa, what is happening to our forests and rivers,” he said.
He raised alarm over illegal mining, warning that environmental destruction is being overlooked because of high gold prices.
“Why are we selling our future to eat today? Why are we poisoning ourselves slowly in the name of gold?” he asked, expressing disappointment that the fight against galamsey has not seen what he described as bold, measurable action.
Turning to agriculture, Dr. Zaato said falling food inflation masks hardship among farmers, particularly maize and rice producers struggling with unsold stock and falling farm gate prices.
“There is no class of farmers in this country who are clapping for this economy,” he stated, adding that many are “staring at bankruptcy and poverty.”
He also pointed to food distribution challenges, noting the paradox of surplus in some regions while nearly 30 percent of Ghanaians face food insecurity.
“We need to fix the supply chain and add value so that food does not rot in warehouses while people go to bed hungry,” he urged.
On employment and governance, Dr. Zaato questioned official job creation claims and warned about declining public trust.
“If promises are not kept, trust erodes,” he said, cautioning that “a time will come when citizens will no longer believe what government says.”
By Christabel Success Treve
