Ghana's economy has relatively enjoyed macro-economic stability, but this is yet to translate into  sound  competitive business environment, increases in  jobs  and  poverty reduction  levels.

The country is  well endowed with natural resources of which agriculture accounts for roughly one-quarter of GDP and employs more than half of the workforce, mainly small landholders.

The services sector also accounts for 50 per cent of Gross Domestic Product (GDP) while gold and cocoa production and individual remittances have become some of the other major sources of foreign exchange.

Oil production at Ghana's offshore Jubilee field began in mid-December, 2010, and is expected to boost economic growth. 

The Naional Democractic Congress

As a result, the next President is expected to be faced with challenges in managing new oil revenue while maintaining fiscal discipline and resisting debt accumulation to improve the lives of the citizenry.

In its manifesto christened; ‘Advancing The Better Ghana Agenda’, the ruling National Democratic Congress (NDC) is seeking to renew what it describes as the covenant between the party and the people of Ghana in pursuance of its common and cherished goal of for all.

The party’s manifesto is based on the achievements over the last four years during which period it established a firm foundation for delivering a programme of economic recovery and sustained welfare for the people of Ghana.

According to the party, the 2012 NDC Manifesto therefore underscores its commitment to build a prosperous and equitable society.

Under the next NDC administration, it said the party seeks to deepen its economic performance and diversify its economic programmes to provide a basis for the provision of the basic human needs of Ghanaians. 

“Our governance will be more thoroughly decentralised to enable citizens to access resources and demand accountability for services”, the document stated

“Our infrastructure development will be intensified to accelerate the transformation of Ghana into a full middle-income status; Our agriculture will be modernised to involve a strong partnership between private agricultural investors and peasant small-holders in a manner that introduces capital, technology and an expanded local and global market access; and above all, our educational assets will be rapidly expanded to provide equitable access for every child to enter and complete basic education, enter and complete secondary school,” it said.

The party believes that the aggregate of all these will enable the economy to expand, creating the needed jobs that will propel prosperity for all “and Advance the Better Ghana Agenda”.

In the area of economy, the party pointed out in its manifesto some specific macro-economic targets which it intends to pursue in the next four years.

This includes an average GDP growth rate of at least eight per cent per annum; A single digit rate of inflation; An overall budget deficit equivalent to five per cent of GDP; and gross international reserves that will cover not less than four months of imports.

Again it mentions that the overall, our economic policies and programmes will aim at the attainment of a per capita income of at least US$2,300 by year 2017.

On job creation which has been a major bane for many governments past and present, the party said activities in the under-mentioned areas will create thousands of jobs.

The document again cited manufacturing and industry as the key elements for job creation  and noted that with the anticipated commercial exploitation of crude oil and gas, “we are laying the foundation for an integrated petroleum industry based on bauxite; A petro-chemical industry based on salt and natural gas; A fertilizer industry to give impetus to agro-development; a salt-based chemical industry for caustic soda; Allied consumer products and exports based on oil and gas; and an integrated iron and steel industry based on the iron ore deposits at Oppon Manso in the Western Region”.

The party believes that cheap gas-fired energy will facilitate the full revival of the following industries: Volta Aluminum Company; Textile industries and ventures in their value chain; Ceramics, brick and tile manufacturing; Glass factories; and steel mills.

In the agricultural sector the party has pledge commitment to expanded the role of the National Service Scheme in food production; distribute 20 million hybrid cocoa seedlings free of charge over the next six years while intensifying and extending the mass spraying exercise to include brushing, pest and disease control, shade management, pollination and fertilisation.

For the public sector, the ruling party intends to see to the implementation of a district-focused Public Works Programme under which socio-economic infrastructure projects such as town halls, community centres, district and town libraries, markets and others will be undertaken using labour intensive methods and the full deployment of local building materials while seeing to an accelerated Social Housing Scheme under the Rural Housing and Urban Renewal Programmes.

In the same vain, the job creation programme under the “New Approach to Public Sector Reforms” where the facilitative power of the state will be used to create businesses and jobs in partnership with the private sector.

The party has also resolved to use the construction of roads in many parts of the country as an opportunity from which jobs will be created in the Eastern Corridor, the Western Corridor and the Central Spine.

The Great Consolidated People's Party

The Great Consolidated People’s Party (GCPP), still believes that the issue of domestication still an issue and therefore it is dominating its campaign.

As a result, the party whose former leader, the late Dan Lartey, became popular because of his ideas on domestication has titled its manifesto, “Modern Domestication for a Modern Ghana”.

The manifesto as outlined  by the flag bearer of the party, Dr  Henry Lartey’s plan to generate three million new jobs by converting Accra into Africa’s first solar city, and establishing Ghana as the continents first sustainable economy.

The GCPP believes that energy is the cornerstone of modern economies and pointed out that the nation is powerless in every sense of the word without reliable sources of energy.

GCPP is coming up with a policy on solar homes and energy efficient communities so that the country can use renewable energy technologies to create more than three million jobs.

The party explains that sustainable development through planned energy efficient communities is a common sense approach to making change.

GCPP intends to chart a  new path to create sustainable residential communities in Ghana that recognise the growth in the population and reflect the needs and aspirations in every home.

The party noted that while most people discuss electronic cars in-terms of costs or the kilometers they can drive, few Ghanaians appreciate the business and economic benefits behind the automotive industry.

New Patriotic Party

The 115 paged manifesto of the New Patriotic Party (NPP)  has as its theme  “Transforming Lives, Transforming Ghana” through building a free, fair and prosperous society.

In six chapters  the party outlined its plans to transform  all the sectors of the country.

One of the major cardinal points that the party raised in its manifesto is to transform the economy through job creation.

The party said  when given the mandate it will  strengthen and resource the National Development Planning Commission (NDPC) and use it as an organ for planning the country’s economic transformation.

According to the manifesto it will  harmonise and regulate all laws on land use planning, provide for sustainable development of land and human settlements through a decentralised planning system, ensure judicious use of land in order to improve quality of life, promote

health, safety and regulate national, regional, district and local spatial planning, and generally deal with spatial aspects of socio-economic development.

On industrialisation,  the party hopes to  make a dramatic shift through improving access to quality education, especially in science, technology and research; increasing agricultural production and adding value to our products through agro processing; supporting and promoting our businesses to be export-oriented and globally competitive; supporting and promoting our industries, especially small- and medium scale entrepreneurs and businesses,

to be competitive in import substitution and exports; developing and adding value to our natural resources, including oil and gas, salt, gold, bauxite, iron ore, manganese and our agricultural products  promoting high-value services; supporting and making Ghana the pharmaceutical manufacturing centre for the region and beyond; developing an aggressive infrastructure programme; focused on value-for-money integrated development planning. It said  the country needs an integrated approach to improving power supply, housing, roads and railways, water irrigation, ports and industrial centres. 

The objective of the NPP  trade policy is to improve competitiveness in domestic and international markets.  The party hopes to  implement a trade policy that works for Ghana in creating jobs and is attractive and reassuring to the investor. Government and the private sector will establish a consistent dialogue to identify and address better the needs of our businesses and the economy.

A NPP led government hopes to remove obstacles that prevent cheaper technology acquisition, discourage the importation of capital inputs and limit production and access to markets.     You

 The party said it believes in the efficacy of the market and therefore  its major responsibility  will be to empower  the private sector  to be the driving force  in a transformed economy to deliver wealth and jobs. The party hopes to build Ghanaian enterprises  to be more competitive on the international market as well as reducing the cost of doing business.

Another major aim of the party according to the manifesto is to achieve  a macro-economic stability, create good avenue for access to affordable credit  to enable to private sector to become the bedrock of the economy.

On strengthening  the financial sector, the party intends to  implement financial sector  reforms which  will aim at encouraging  savings, deepening  the capital market to make affordable  long-term finance  available to  businesses and bringing  efficiency  in the way Ghanaian transact business.

The party  will encourage the setting of credit unions  as an alternative to establish banking institutions

On fiscal policy which has been very critical to economic development of the country a NPP lead administration  intends to put in measures to ensure that high level of  discipline is injected to the  management of the public purse. The party intents to implement a transparent and comprehensive tax policy that is designed to facilitate economic growth, while also ensuring efficiency, responsibility and accountability  government expenditure. In this regard, the NPP will introduce a Fiscal Responsibility Act to enforce the prudent management  of the country’s finances

The Progressive People's Party

A government of the Progressive People’s Party (PPP) led by breakaway candidate, Dr Papa Kwesi Nduom said it remains committed to the development of food crops through modernisation and creation of market access.

According to the party  cash crops are important as foreign exchange earners and that  there would be a big problem if the nation could not feed itself. A  PPP led administration therefore intends to depart from the government’s attitude of paying attention to the development of cash crops at the expense of food crops. It's   manifesto provides elaborate information on how to make agricultural policies work for small holder farmers in Ghana.

PPP wants to use its administration when voted into power to support the private sector to grow and also ensure that all public institutions patronised locally produced food items.

The PPP pledges to create market access for farmers  to enable them  go the extra mile to produce. The party strongly  believes that  when a farmer produces there must be a buyer. The party said Ghanaians are  sitting on trillions of dollars in gold, oil, bauxite, iron ore, diamonds and vast tracts of fertile lands that could be harnessed,  process and exported and the revenue  used to  dramatically improve education, healthcare and create jobs for the people.

PPP administration would establish a Women Enterprise Development Agency to train, encourage and promote the growth and development of women entrepreneurs, and also ensure the passage of the Spousal Property Rights Bill if it was not passed before January 7, 2013.

The party believes   total support  for agriculture, equal sharing of the national cake, reforming of state institutions to make them more efficient, provision of energy for industrialisation, and relentless fight against crime, the drug trade and corruption.

the United Freedom Party

For the United Freedom Party (UFP) his leader  Mr Akwasi Addai  believes in  massive industrialisation of Ghana’s economy as  that will lead to the creation of millions of jobs to Ghanaians.

The UFP believes in an agrarian economy to turn the fortune of the country around, as trading in Ghana has become the only sources of business for the the Ghanaian businessman.  The main interest of the party is to ensure the interest of Ghanaian businesses become a top priority.

The People's National Convention

The 42-page manifesto of  the Peoples National Convention is titled, “Service with Honesty”, which is said to represent the national vision and development agenda of the PNC for the people of Ghana if voted into power.

 The main themes of the document are: redirection, rehabilitation, youth empowerment and economic development.

Convention People's Party

A government of the Convention People’s Party  (CPP) intends to promote the building of a self-reliant national economy that will be run and managed in the interest of Ghanaians.

 Recognising the role of the private capital, CPP will promote the vigorous development of the state sector, joint

ventures and cooperatives.

  In its manifesto the party said it will work to accelerate the fruition of the ideals of a full

African economic integration of which ECOWAS is a stepping stone and shall strive to move Ghana away from the role of a raw material produced by the  country by encouraging the establishment of secondary industries.

 Under a Convention People’s Party , the government  and the role of the state will be an active prime mover of growth and development with the objective of meeting the needs and aspirations of all Ghanaians.

The manifesto further stated that under a CCP led government it  will promote economic development in a manner which ensure a healthy and sustainable environment.

It said the  CPP recognises that investment can help accelerate growth if it is properly directed to the priority areas of the national economy including research and development and as such the a CPp government would work as an active partner with the private sector to ensure increased investment in industry, research and development.

“ In the international sphere, our management of the national currency will ensure both stability and exchangeability. We shall also provide adequate and appropriate protection for domestic industries as we curb wanton dumping of foreign imports, from countries which will themselves protect their markets against our products. Our government shall bridge the gap between various income groups and institute a tax  system which will be fair especially to the underprivileged sections of the Ghanaian society”, the manifesto stated..

The Independent candidate

The Independent candidate  Mr Joseph Osei Yeboah believes that a  government under his leadership  will expand the rural economy to boost agricultural production.

He noted that his government would enforce laws that would prioritise local interest especially in commerce to provide leverage for Ghanaians.