The Transformative Impact of the 24-Hour Economy Policy on Ghana’s Economic Landscape
Introduction
The General Secretary of the National Democratic Congress (NDC), Fifi Kwetey, has highlighted the game-changing potential of former President John Dramani Mahama’s 24-hour economy policy. This report aims to emphasize the significance of this policy in achieving the Sustainable Development Goals (SDGs) and its potential impact on Ghana’s economic fortunes.
Research Findings
A study conducted by Dr. Yakubu Abdul-Salam, an esteemed Associate Professor of Economics at the University of Aberdeen Business School, utilizing the Computable General Equilibrium (CGE) model, reveals promising results. The research indicates that the implementation of the 24-hour economy policy could lead to a monumental 31.7% growth in Ghana’s Gross Domestic Product (GDP) over the next decade.
Job Creation
The research also highlights that the policy has the potential to create over 3 million new jobs within five years. This surge in employment opportunities aligns with SDG 8, which aims to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.
Political Significance
Former President John Dramani Mahama, who is contesting the 2024 presidential election on the ticket of the opposition National Democratic Congress (NDC), has placed significant emphasis on the implementation of a 24-hour economy policy. This policy has gained popularity in the political space in Ghana, highlighting its relevance in achieving the SDGs.
Conclusion
The 24-hour economy policy holds immense potential for Ghana’s economic landscape. It aligns with SDG 8 and has the capacity to drive sustainable economic growth, job creation, and enhanced global competitiveness. As Ghana approaches the polls, endorsing and re-electing H.E. John Mahama is crucial for unlocking Ghana’s potential and building a brighter future for all.
Reference
- Abdul-Salam, Y. (2024). The Transformative Impact of the 24-Hour Economy Policy on Ghana’s Economic Landscape. University of Aberdeen Business School, January 2024.
SDGs, Targets, and Indicators Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 8: Decent Work and Economic Growth
The article discusses the potential economic impact of the 24-hour economy policy, which directly relates to SDG 8, which aims to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries
- Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value
The article mentions that the implementation of the 24-hour economy policy could lead to a significant growth in Ghana’s Gross Domestic Product (GDP) and the creation of over 3 million new jobs within five years. These targets align with Target 8.1 and Target 8.5 of SDG 8.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Growth in Ghana’s Gross Domestic Product (GDP)
- Number of new jobs created
The article explicitly mentions that the 24-hour economy policy could catalyze a monumental 31.7% growth in Ghana’s GDP over the next decade and result in the creation of over 3 million new jobs within five years. These indicators can be used to measure progress towards the identified targets under SDG 8.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries | Growth in Ghana’s Gross Domestic Product (GDP) |
| SDG 8: Decent Work and Economic Growth | Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value | Number of new jobs created |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: myjoyonline.com
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