By Laudia Anyorkor Nunoo
Tema, Nov. 09, GNA — The Institute for Liberty and Policy Innovation (ILAPI) has called on the government to make poverty reduction the central measure of the 2027 budget, arguing that macroeconomic stability alone does not guarantee improved living conditions for households.
The institute said the next budget should move beyond celebrating lower inflation, improved foreign reserves and economic growth to address the economic difficulties confronting ordinary Ghanaians.
Mr Peter Bismark Kwofie, the Executive Director of ILAPI, speaking in an interview with the Ghana News Agency (GNA) on the institute’s expectations for the 2027 Budget Statement and Economic Policy, said economic recovery must translate into productive investment, decent jobs, higher incomes and improved living standards.
Citing data from the Ghana Statistical Service’s ‘Ghana in Numbers 2025’, the institute noted that multidimensional poverty declined from 31.2 per cent in 2022 to 23.0 per cent in the first three quarters of 2025.
However, food insecurity increased from 37.7 per cent in 2024 to 39.8 per cent during the first three quarters of 2025, with approximately 13 million people affected.
It also noted that rural multidimensional poverty stood at 31.9 per cent in the third quarter of 2025, compared with 14.2 per cent in urban areas.
According to ILAPI, the figures demonstrate that improvements in some economic indicators do not necessarily translate into household prosperity.
He, therefore, urged the government to establish measurable poverty-reduction targets and prioritise sectors capable of generating employment, particularly agriculture, agro-processing, manufacturing and private enterprise.
He also called for measures to reduce the cost of establishing and operating businesses, expand access to affordable private-sector credit and direct poverty-reduction expenditure towards communities experiencing the highest levels of deprivation.
The ILAPI Executive Director said poverty reduction should not be limited to distributing resources to vulnerable households but should also involve removing institutional barriers that prevent individuals from creating and retaining wealth.
He further urged the government to protect household assets, strengthen inheritance rights and improve access to economic opportunities as part of efforts to reduce poverty.
He stated that the success of the 2027 budget should ultimately be assessed by the extent to which ordinary Ghanaians experienced greater economic opportunities and reduced deprivation.
GNA
Reporter: Laudia Anyorkor Nunoo
Email address: [email protected]