AfDB calls on government to measure economic growth by policies that directly transform people’s lives

prez-mahaThe African Development Bank has cautioned Ghana against applauding itself for headline economic growth rates.

According to the AfDB, such figures do not necessarily translate into economic transformation of a country’s people.

Speaking at the National Economic Forum representative of the bank indicated that Ghana’s economic growth had not translated into the needed structural changes.

She indicated that the new focus should rather be on deliberate policies that directly better the lives of people.

The African Development Bank however added that even as the new direction will require massive funding, Ghana must also realize that a large chunk of the funds for national development should come from within the country. The bank proposes that the country spends prudently and ensure that loop holes in revenue generation are plugged.

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