“Not only the economy, you also have to invest and attract investments in the areas that generate jobs. If you look at the movements in the national growth pattern, you will see that there is a lot of movement in services. Basically banking, insurance, and so on. Those don’t create the levels of jobs that absorb the 300,000 people coming into the workforce,” Tanoh explained.
He pointed out that while industries such as oil, gas, and mining are capital-intensive and do not generate as many jobs, sectors like manufacturing and agribusiness have the potential to create significant employment opportunities.
“If you look at the industry, and our system industry includes oil and gas and mining, these are capital-intensive sectors, so they also don’t generate the levels of jobs that say manufacturing or agribusiness can do,” he added.
Goosie Tanoh stressed the importance of stabilising the economy, bringing down inflation, and reducing food price inflation.
He also highlighted the need to stabilise the exchange rate and lower interest rates to reduce the cost of financing.
“So beyond stabilising the economy, bringing down inflation, bringing down food price inflation, stabilising the exchange rate, and bringing down interest rates, the cost of financing, you have to look at where you are putting your money to generate the requisite level of jobs and therefore requisite employment which enlarges your tax base, enlarges your revenue, and also allows you to grow an economy in the way that it has to go,” Tanoh stated.
Election 2024: NPP’s Manaf Ibrahim is no match for me – Muntaka
#GhanaPolls2024
#ElectionBureau
#CitiVerify
