8.4m Ghanaians can’t afford gh¢3 a day – Research report

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Research undertaken by the Institute of Statistical, Social and Economic Research (ISSER) has revealed that about 8.4 million Ghanaians can’t afford gh¢3 a day.

According to the research, the gap between rich and poor in Ghana is rising.

A senior Research Fellow and Head of Economics Division at ISSER Dr. Charles Ackah said about a quarter of the population are poor.

He said they are unable to afford gh¢3.6 per day, an amount that cannot foot the trotro fare from Accra to Kasoa or buy anyone Waakye and fish in Accra.

The research is the product of a very detailed academic and expert view of all the sectors of the Ghanaian economy.

The ISSER report among other things said Ghana’s economic performance mimicked the global and sub-Saharan Africa economic output, with a marked nosediving since 2014.

It also said oil prices rose about 80% in 2016, from US$30 per barrel in January 2016 to US$54 by January 2017, impacted by demand weaknesses and low prices.

Also weak economic recovery, increased unemployment with unemployment rates among the youth (15-24 year group) pegged at twice as high as that of any cohort of labour force.

Dr. Charles Ackah speaking on Accra-based Adom FM said Ghana’s economy is too difficult to understand.

“We consider the economy of Ghana very difficult to understand. It is an economy blessed with all the natural resources, very good weather and good people yet we see inequality indices and poverty still high,” he added.

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