An economic policy and development expert, Dr Alexander Amo Baffour has commended the Ghana GOLDBOD for its role in stabilising the country’s economy.
He attributed the economic transformation under the Mahama administration to the coordination by GOLDBOD, the Bank of Ghana (BoG) and the Ministry of Finance.
Recent data from the Bank of Ghana indicate that as of July 2026, gold accounted for 68.3% of Ghana’s total export earnings, compared with 12.5% from cocoa, 9.4% from crude oil and just 9.8% from non-traditional exports.
Dr Baffour who is also a lecturer at the Pentecost University and an NDC National Vice Chairman hopeful said the prudent management and reduced wastage in the production value chain have made the economy more resilient.
“These multifaceted efforts have
largely contributed to making the economy robust and able to withstand major global shocks, unlike many advanced economies that are currently struggling,” he stated.
Fuel Prices
Dr Alexander Amo Baffour’s comment comes after the government subsidised fuel prices in the country by GH¢2 for a month, as prices of world petroleum products were skyrocketing.
He commended the Mahama-led administration for the intervention and added that the move will help improve livelihoods.
Meanwhile, Energy experts say the
sustainability of the GH¢2 subsidy will
depend on global crude trends and
exchange rate stability. With Brent still hovering above $80/barrel due to Middle East risks, OMCs will be watching the next pricing window closely.
Dr. Amo Baffour further noted that
the GH¢2 per litre reduction on diesel is expected to provide significant relief to Small and Medium-sized Enterprises (SMEs) and industries whose operations
rely heavily on diesel-powered equipment, generators, and transportation.
He explained that the intervention could lower production and distribution costs,
improve business cash flow, and help businesses maintain stable prices for goods and services despite global oil market volatility.
“Diesel is the lifeblood of many
productive sectors of the economy. This intervention will cushion SMEs, manufacturers, agro-processing firms, transport operators, construction companies, and other industries against rising operational costs. Ultimately, it has the potential to preserve jobs, ease inflationary pressures, and enhance business confidence during this period of global uncertainty,” Dr. Amo Baffour stated.
Source: Myxyzonline.com
