Government must increase agric sector investment to improve economy – Dr Sarkodie
Economist Dr Adu Sarkodie says the impact of COVID-19 on the economy is a clear indicator that the government has to give more attention to growing the agriculture sector.
While many industries last year shrank amid the pandemic, the Agric sector recorded significant growth.
This, Dr Sarkodie believes suggests that more attention ought to be given to the sector.
“Your concentration must be on agric modernization and industrialisation. So, going forward, I think the key point here is for government to intensify and enhance the policies and programs of the modernization of agric.
Though the planting for food and jobs is working, I think we can do more than that, we can do better than we are doing.
We have to do more investment because during the Christmas I understand poultry prices shot up and also egg prices shot up. It means that something was wrong with our local poultry production in Ghana. I believe the planting for food and jobs has not achieved its benefits 100 per cent, there is more room for improvement.”
The Coronavirus pandemic significantly impacted Ghana’s economy causing it to contract for the first time in 37 years.
The Government Statistician, Prof Samuel Kobina Annim had indicated that the partial lockdown implemented earlier to curb the spread of Covid-19 in some parts of the country was the main cause of the contraction.
Prof Annim revealed that the highest contraction of 79.4% was recorded in the hotels and restaurants sub-sector.
He added that the services sector saw a growth rate of negative 2.6%.
The industrial sector which makes up 33 per cent of all goods and services recorded a negative growth rate of 5.7%.
While several sectors recorded a decline, the Agriculture sector which makes up 19% of all goods produced in the second quarter saw a growth rate of 2.5%.
Government has over the years embarked on some programs to improve the sector including the planting for food and jobs, one village one dam.