A Professor of Finance at the University of Ghana Business School, Godfred Bokpin, has challenged the Mahama administration to rethink how economic success is measured, urging policymakers to prioritise job creation over headline Gross Domestic Product growth figures.
According to him, GDP growth on its own does not reflect the lived realities of citizens, especially the growing number of unemployed youth who continue to struggle to find decent work after completing their education.
Prof. Bokpin’s comments come at a time when economic performance is expected to dominate political and policy discussions, particularly as government rolls out its economic agenda and defends the structure of the 2026 Budget. While GDP remains a widely accepted indicator of economic performance, he argued that it has become an inadequate tool for assessing whether growth is inclusive and sustainable.
Youth Unemployment Remains a Burning Issue
Prof. Bokpin stressed that Ghana’s most urgent economic challenge is job creation. He pointed out that thousands of young people graduate from tertiary institutions each year with high expectations, only to encounter a labour market that is unable to absorb them. For him, celebrating GDP growth in such circumstances risks masking deep structural problems within the economy.
“The economy will continue to dominate political discussions, especially when we talk about job growth. We have to look beyond GDP growth and focus on job growth. People have finished school and are looking for jobs.”
Godfred Bokpin
His statement reflects a broader concern that economic expansion without employment opportunities leads to frustration, inequality and social tension.
Prof. Bokpin explained that Ghana is not alone in facing this dilemma. Across the world, many countries are gradually moving away from glorifying GDP growth as the sole measure of economic success. Instead, they are adopting broader frameworks that consider employment, income distribution, welfare and quality of life.
According to him, Ghana must draw lessons from these approaches by focusing on policies that directly impact livelihoods. Economic growth that does not translate into jobs, he argued, creates what economists describe as jobless growth, a situation where output increases but employment stagnates or declines.
Government Defends 2026 Budget Direction
Meanwhile, the government has defended the orientation of the 2026 Budget, insisting that it has been carefully structured to drive economic transformation and reduce poverty. Officials argue that traditional indicators such as GDP do not fully capture improvements in the living conditions of citizens, and that government policy is increasingly being shaped with this understanding in mind.
Speaking on behalf of the Finance Minister, Dr Cassiel Ato Forson, the Chief Economist Officer and Director of the Real Sector Division at the Ministry of Finance, Samuel Danquah Arkhurst, acknowledged the limitations of GDP as a development metric. He explained that while GDP remains an important benchmark, it does not adequately measure poverty reduction or improvements in household welfare.
Mr Arkhurst underscored the need to evaluate the economy using a broader set of indicators that reflect the overall health of the economy. According to him, factors such as employment levels, income security and access to basic services provide a clearer picture of whether economic policies are improving the lives of ordinary Ghanaians.
This position aligns in part with Prof. Bokpin’s call for a jobs focused policy approach, although critics argue that the real test lies in implementation rather than intent. For many observers, the challenge is ensuring that budgetary allocations and reforms translate into tangible employment opportunities, particularly for young people and first time job seekers.
The Risk of Ignoring Job Creation
Economists warn that persistent unemployment among the youth poses long term risks to economic stability. Without meaningful work, young people are unable to contribute productively to the economy, save for the future or support their families. This, in turn, undermines domestic demand and slows inclusive growth.
Prof. Bokpin has consistently argued that job creation should be at the centre of economic planning. He believes that policies aimed at supporting productive sectors such as manufacturing, agribusiness and services will have a more direct impact on employment than a narrow focus on macroeconomic aggregates.
The debate sparked by Prof. Bokpin’s remarks highlights a growing consensus that Ghana must rethink its development priorities. While GDP growth remains important for macroeconomic stability and investor confidence, it should not be pursued at the expense of employment and social welfare.
As government prepares to implement its economic agenda, analysts say the focus must shift towards growth strategies that create jobs, raise incomes and improve living standards. For many unemployed graduates and job seekers, economic success is not defined by national statistics but by whether they can earn a decent living. Until policies deliver on that front, the argument that GDP cannot measure empty pockets will continue to resonate.
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