Economic Analyst Calls for Region-Specific Economic Policies

By: Solomon Nartey Tetteh

Economic Analyst Emmanuel Boateng has called for closer scrutiny of regional economic trends, arguing that Ghana’s macroeconomic policies should be tailored to reflect the unique realities of individual regions.

Speaking on Business Breakfast on Zed 101.9FM, Mr. Boateng noted that recent data show uneven regional performance, particularly in inflation trends. He observed that regions such as Greater Accra are recording slower rates of increase compared to Ashanti, Western, Eastern and Volta regions, a development he believes deserves serious policy attention.

“It is quite interesting that when you look at the rate at which regions like Greater Accra are increasing, it is lower than what we are seeing in Ashanti, Western, Eastern and Volta regions. We need to pay close attention to our regions,” he said.

Mr. Boateng highlighted that Ghana’s fiscal and monetary policies, often designed at the national level, affect regions differently. According to him, there is a growing need to analyse how sensitive individual regions are to these policies and how they have shaped regional economic fortunes over the years.

“I am beginning to have the general feeling that at the macro level, our fiscal and monetary policies impact regions differently. Ghanaian regions are distinct in themselves, and each region requires specific policies to lift it in the way we desire,”he explained.

He stressed that Ghana could adopt an approach from other developed countries by empowering regional ministers and local authorities to take a more data-driven interest in regional economic performance.

According to him, this should not be a one-off exercise but a sustained policy direction.

“If our regional ministers are interested, and I think this should be something longstanding, they should be looking into these issues,” Mr Boateng added.

“They should be asking the Ghana Statistical Service why inflation in a place like the North East Region is behaving the way it is.”

Mr. Boateng reiterated that without a deliberate move towards region-specific economic planning, national policies may continue to produce uneven outcomes, potentially widening development gaps across the country.

The analyst further stated that while high inflation poses serious challenges to households and businesses, extremely low inflation or deflation can also be problematic for an economy.

Mr. Boateng likened inflation to salt in food, stressing that the economy needs a reasonable and balanced level to function properly.

“Inflation is like salt. Too much of it is bad, but too little of it is also bad. You just need an acceptable and reasonable amount,” he explained.

Mr. Boateng maintained that moderate inflation remains essential for economic stability, cautioning that both excessive inflation and deflation can undermine growth and living standards.