The National Development Planning Commission (NDPC) has developed a macro-economic model to determine Ghana’s growth strategy.
The model, which has been named Ghana Macro-economic Model (GMM), will be used to transform key sectors of the economy such as agriculture, industry, and the services sector by setting sector-specific growth targets, policy directives, and the various means to achieve them.
Announcing this at a press conference in Accra on Sunday, July 18, 2021, Director General of NDPC, Dr. Kodjo Esseim Mensah-Abrampa said the model serves as a blueprint to assist the country in economic forecasting, policy analysis, and choices.
He said the model would help the country to collect the right information of the economy to right the wrong associated with policy directives due to lack of information adding that it can be used to assess the economic impacts of eventualities such as the coronavirus pandemic to inform measures if adopted would put the economy back on track.
Further, he said the model would be used to forecast the economic out-turns of the policies of the government to inform their [policies] reform and also promote the judicious use of the nation’s scarce resources.