The World Bank says 56.4 percent of Ghanaians remain in poverty, despite recent economic growth, warning that widening spatial disparities point to a disconnect between the country’s economic performance and the living conditions of many citizens.
The World Bank Division Director for Ghana, Liberia and Sierra Leone, Dr Robert Taliercio O’Brien, made the observation at the launch of the World Bank Group’s 10th Ghana Economic Update.
According to him, the benefits of economic growth have not yet translated into broad-based improvements in living standards.
“56.4% of Ghanaians remain in poverty. And spatial disparities are widening,” Dr Taliercio O’Brien said.
He explained that the situation highlights a gap between Ghana’s headline economic growth figures and the everyday experiences of a significant proportion of the population.
He noted that economic growth was being driven largely by sectors with limited capacity to create enough jobs for the growing workforce.
“Growth is led by sectors with limited employment absorption relative to its growing young population entering the labour market in the next decade,” he said.
Dr Taliercio O’Brien warned that the situation could become an even greater challenge as more young Ghanaians enter the labour market in the coming years.
He described the mismatch between economic growth and employment creation as “a structural imbalance that also demands urgent attention.”
The World Bank’s assessment highlights the need for Ghana to pursue more inclusive economic growth, particularly through sectors capable of creating sustainable employment opportunities and improving living standards across different parts of the country.
