Accra: The European Union (EU) Ambassador to Ghana, Rune Skinnebach, has called for sustained structural reforms to consolidate Ghana's recent economic gains, warning that current progress may not be durable without a stronger foundation. Speaking at a media engagement in Accra to launch Europe Month, he acknowledged that Ghana's economy was showing positive signs, with improved macroeconomic indicators and faster-than-expected progress under ongoing reform programmes.
According to Ghana News Agency, the Ambassador cautioned that the gains were underpinned by fragile factors, particularly high global gold prices, which could expose the economy to volatility. He noted that reliance on commodity-driven growth posed long-term risks, and while recent fiscal and economic reforms had yielded encouraging outcomes, sustaining the momentum would require disciplined policy implementation and diversification.
The Ambassador stressed that Ghana could not depend on favourable external conditions such as commodity prices or periodic debt restructuring to drive growth over the long term. He urged authorities to prioritise domestic revenue mobilisation, describing it as a critical area for strengthening Ghana's economic resilience. He observed that government revenue collection remained suboptimal and called for a more predictable, efficient, and unified tax system across the country.
Emerging challenges in key sectors, including cocoa and petroleum, have traditionally supported Ghana's fiscal stability, and pressures in these sectors underscore the need for economic diversification and stronger internal revenue systems. The Ambassador emphasised that maintaining Ghana's current economic trajectory would depend on prudent economic management in the coming years.
He highlighted the importance of building a resilient economy capable of withstanding external shocks, particularly in an increasingly uncertain global environment. The Ambassador noted that global economic conditions, including fluctuations in commodity markets and geopolitical tensions, continued to pose risks to developing economies. In that context, he said partnerships with reliable international actors, such as the European Union, could play a vital role in supporting Ghana's long-term development agenda.
The EU, he noted, remained committed to supporting Ghana through investments in infrastructure, job creation, and economic transformation initiatives aimed at promoting sustainable growth. The EU's engagement with Ghana is shifting from traditional development assistance to a more strategic partnership focused on shared interests, including economic stability and private sector growth.
Ongoing EU-supported programmes are designed to enhance skills development, boost employment, and improve infrastructure, particularly in underserved regions. These interventions are intended to complement Ghana's domestic efforts to build a more inclusive and resilient economy. The importance of accountability in public spending and project implementation was stressed, noting that development programmes must deliver measurable impact for citizens.
The Ambassador described Ghana as a country with strong economic potential, emphasising that realising that potential would require sustained commitment to reform and sound economic governance. He called for continued collaboration between government, development partners, and the private sector to drive long-term growth.
The media engagement formed part of the official launch of Europe Month, during which the European Union is highlighting its partnership with Ghana and engaging stakeholders on key development issues. The event provided a platform for journalists to interrogate critical aspects of Ghana's economy and explore opportunities for strengthened cooperation between Ghana and its international partners.