Poverty Rate 8.4m Ghanaians can't afford GH¢3 a day - Research report

A senior Research Fellow and Head of Economics Division at ISSER Dr. Charles Ackah said about a quarter of the population are poor.

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

Research undertaken by the Institute of Statistical, Social and Economic Research (ISSER) has revealed that about 8.4 million Ghanaians can't afford GH¢3 a day.

According to the research, the gap between rich and poor in Ghana is rising.

A senior Research Fellow and Head of Economics Division at ISSER Dr. Charles Ackah said about a quarter of the population are poor.

READ MORE: I prophesied fire disaster in 2017 - Owusu Bempah

He said they are unable to afford GH¢3.6 per day, an amount that cannot foot the trotro fare from Accra to Kasoa or buy anyone Waakye and fish in Accra.

 

The research is the product of a very detailed academic and expert view of all the sectors of the Ghanaian economy.

The ISSER report among other things said Ghana’s economic performance mimicked the global and sub-Saharan Africa economic output, with a marked nosediving since 2014.

It also said oil prices rose about 80% in 2016, from US$30 per barrel in January 2016 to US$54 by January 2017, impacted by demand weaknesses and low prices.

Also weak economic recovery, increased unemployment with unemployment rates among the youth (15-24 year group) pegged at twice as high as that of any cohort of labour force.

READ ALSO: 87-year-old woman sues NPA, AMA over filling station

Dr. Charles Ackah speaking on Accra-based Adom FM said Ghana’s economy is too difficult to understand.

"We consider the economy of Ghana very difficult to understand. It is an economy blessed with all the natural resources, very good weather and good people yet we see inequality indices and poverty still high," he added.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos





Top Articles

1 Sad SHS students vandalize teachers vehicles over colleague’s deathbullet
2 Suicide Administrator at Effia Nkwanta Hospital kills himself over bad...bullet
3 Issues Victims of romance fraud deserve no sympathy - Counsellor...bullet
4 Asantehene Otumfuo receives rousing welcome after money laundering...bullet
5 Ghana Army Akufo-Addo warns cadet officers: Don't brutalise citizensbullet
6 Selected Racism Does it matter if Jesus Christ was black or white?bullet
7 Ghana Police ACP Addo-Danquah's appointment as CID boss...bullet
8 Child Birth Shave your pregnant wives before delivery -...bullet
9 Despite Group of Companies NCA shuts down Okay FM and...bullet
10 AMERI Power Plant Minority threatens to walk out over...bullet

Top Videos

1 Allowance Restoration Ghanian nurses dance 'one corner'bullet
2 Controversial Prophet Women sent naked videos seducing to have sex...bullet
3 Atomic Junction Zoomlion cleans site of gas explosionbullet
4 Horrific Stray elephant attacks Tourism Minister and entouragebullet
5 #One Corner New dance craze hits Swedrubullet

Local