Ghana must move beyond stabilising the economy and ensure that businesses and households feel the benefits of the recovery, according to Professor Agyapomaa Gyeke-Dako of the University of Ghana Business School.

Speaking at Channel One TV's second Quarterly Economic Outlook, she said the country's economic recovery, though real, remains fragile and will not translate into improved living standards without deliberate policy interventions.

"We need measures to sustain the gains we have made and think about sectors that will promote growth. We need to be very intentional so that the macro-correction will translate into microeconomic distribution," she said.

Inside Nigeria's 'fake' presidential council that received almost $1m in funding

She noted that recent economic indicators point to significant progress. Inflation has declined to 5.3%, the Monetary Policy Rate has been reduced to 14%, and average lending rates have eased to about 16%.

She also highlighted that the cedi has stabilised at around GH¢11 on the interbank market and GH¢12 on the retail forex market. In addition, Ghana's Gross International Reserves have risen to $14.4 billion, enough to cover 5.7 months of imports, while the country has successfully completed its $3 billion IMF programme and transitioned to a 36-month non-financing Policy Coordination Instrument.

Despite these gains, Professor Gyeke-Dako cautioned against viewing the current economic performance as the end of the recovery process.

According to her, stronger macroeconomic fundamentals do not automatically translate into improved living standards, noting that there is often a delay before economic stability is reflected in the lives of ordinary citizens.

"The micro-level impact will take time before people fully experience it. There is stability now, but if we channel the right measures into the right sectors, the benefits we expect will gradually be realised," she said.

She urged the government to focus on sectors capable of attracting investment, expanding productive capacity and creating sustainable jobs, stressing that this is the key to transforming macroeconomic recovery into broad-based prosperity.

DR/MA