The Institute of Statistical, Social, and Economic Research (ISSER) projected Ghana\u2019s economy to grow 4.5% by the end of 2024, raising its outlook above the International Monetary Fund\u2019s recent revision from 3% to 4%.<\/p>\n Speaking at the launch of the State of the Ghanaian Economy Report and the third-quarter economic review, ISSER Director, Professor Peter Quartey expressed optimism over the country’s trajectory.<\/p>\n \u201cOur growth prospect remains positive,\u201d Prof Quartey said, adding that Ghana could surpass the IMF\u2019s latest 4% forecast with effective fiscal oversight.<\/p>\n To sustain growth, he stressed the need for expenditure rationalisation, particularly in procurement and compensation, advocating for digital payroll systems to streamline these costs.<\/p>\n Prof. Quartey also called for targeted investments in Ghana\u2019s agriculture and industry sectors, which he noted are labour-intensive and capable of driving significant job creation.<\/p>\n \u201cWe need to invest in agriculture and industry because they are labour-intensive sectors. If we invest in them, they can create jobs,\u201d he said.<\/p>\n Addressing Ghana\u2019s public debt, Prof Quartey warned of potential fiscal strain, urging a review of the fiscal responsibility law to include a debt ceiling, ensuring deficit and debt levels stay within sustainable limits.<\/p>\n Despite ISSER\u2019s positive growth forecast, the report cautioned that Ghana\u2019s government must improve revenue mobilisation through digitalisation.<\/p>\n To tackle ongoing food inflation, the report recommended aggressive support for agriculture, particularly through the updated Planting for Food and Jobs (PFJ 2.0) initiative, which aims to strengthen the agricultural value chain and reduce food costs.<\/p>\n \u201cAddressing inflation and exchange rate depreciation will help reduce the cost of living,\u201d the report noted, emphasising that sustained government investment in agriculture will be essential to manage food inflation.<\/p>\n Watch the latest edition of BizHeadlines below:<\/b><\/p>\n![\"ISSER](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/892\/89251745.295.jpg\" "\\"ISSER")
ISSER Director, Professor Peter Quartey<\/span><\/span><\/p>\n<\/div>\n