Economic analysts are urging the government to focus on enhancing agricultural productivity as a safeguard against increasing global trade conflicts.
This appeal follows the International Monetary Fund’s (IMF) adjustment of its global economic growth prediction for 2025 to 2.8%, a significant decrease from the 3.3% estimate provided in January.
The reduction is primarily linked to the intensifying trade disputes, particularly between the United States and its trade partners, resulting from the implementation of new tariffs.
In an interview, economist Professor Godfred Bokpin underscored the current circumstances as a crucial opportunity for Ghana to enhance its agricultural sector.
He stated, ‘Ghana is not producing sufficient food to meet our own needs, much less to consider exporting.’ He pointed out the nation’s significant dependence on imports from nations such as Burkina Faso, Mali, and Niger, indicating substantial potential for growth.
Professor Bokpin further noted that the existing challenges also offer avenues for advancement: ‘We possess the capability to revolutionize our economy through agriculture, agribusiness, and agro-processing. Once we attain self-sufficiency, we can then focus on exporting to neighbouring countries.
The food deficit in Africa amounts to billions of dollars, indicating a vast market that awaits our engagement.’
