Executive Director of the Institute of Economic Research and Public Policy, Dr. George Domfe
The Executive Director of the Institute of Economic Research and Public Policy (IERPP), Dr. George Domfe, has emphasised that Ghana’s over-reliance on rain-fed agriculture has contributed significantly to the stagnation of the country’s economic development.
Speaking as a panelist at the UPSA-IERPP Post-Budget Dialogue on the 2025 budget, organized under the theme, “Unpacking the 2025 Budget: Implications for Economic Stability and Growth,” Dr. Domfe criticised the country’s dependence on rainfall for agricultural productivity, describing it as counterproductive.
“We depend too much on rainfall for our agriculture. This must change. At age 68, we should not be importing rice from China and Thailand. This heavy reliance on imports has been a major factor behind the country’s high unemployment rate. The agricultural sector, which is supposed to be a key driver of GDP, is not being fully utilized,” he stated.
The development economist and Senior Research Fellow at the Centre for Social Policy Studies (CSPS) at the College of Humanities, University of Ghana, also stressed that until agricultural products are processed into finished goods, the country will struggle to achieve significant economic progress.
“It is only when the agro-sector is integrated with the secondary sector that jobs will be created, leading to a significant reduction in unemployment. This, in turn, can help strengthen the Ghanaian currency,” Dr. Domfe added.
He further noted that if more effort is not directed toward processing raw materials into finished goods for both local consumption and export, the Ghanaian Cedi will continue to be vulnerable to the US Dollar and other international currencies.
“Must we continue to rely on rainfall for our agriculture? Can’t we diversify the sector to enhance efficiency and productivity so that Ghana can fully reap the benefits of its agricultural resources?” Dr. Domfe questioned.
The UPSA-IERPP Post-Budget Dialogue 2025 is the maiden symposium organised by the Institute of Economic Research and Public Policy in collaboration with the University of Professional Studies, Accra (UPSA). It took place on Friday, March 14, 2025.
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