Skip to main content

1th qtr 2013 GDP growth estimate at 6.7%

By Fred Yaw Sarpong

The total value of goods and services produced in the first quarter of 2013 was GH¢7,213.7 million, compared to GH¢6,757.7 million recorded in the corresponding period in 2012. This is according to figures released in Accra yesterday by the Ghana Statistical Service (GSS).

This represents 6.7% Gross Domestic Product (GDP) growth for the first quarter of 2013, as against 10.3% in the previous year’s first quarter. This total includes net indirect taxes.

All the sectors of the economy, contributed to this growth were Agriculture, Industry and Services.

The acting Government Statistician, Dr. Philomena Nyarko, who announced this in Accra yesterday, said during the period of the first quarter of 2013, Agriculture recorded a total value of GH¢1,025.3 million, as compared to GH¢1,014.7 million in first quarter of 2012. This represents 1.1% growth.

The industry sector had negative 0.8% growth, recording a value of GH¢1,930.6 million as against GH¢1,946.9 million in 2012 first quarter. The services sector recorded 12.0% GDP growth with a value of GH¢3,781.7 million as against GH¢3,374.6 million at the end of first quarter of 2012.

Dr. Nyarko said, the main contributors of the agriculture sector were livestock and fishing subsectors. They grew by 3.2% and 36.4% respectively.

On the part of the industry sector, electricity 6.6%; mining and quarrying 4.1%; and construction 1.2% were the main contributors.

She stated that the service sub-sectors, which contributed to the highest growth of 12.0%, comprised real estate, professional, administrative and support services activities 23.7%; information and communication activities 23.1%; financial and insurance activities 30.1%.


Popular posts from this blog

Deputy AG sues Facebooker over 'malicious' Ameri deal

The Deputy Attorney-General and Member of Parliament for Bolgatanga East, Mr Dominic Ayine has filed a defamation suit at an Accra High Court against a Facebook commentator, Evron Hughes.
In Mr Ayine’s statement of claim, sighted by Graphic Online, he accused Mr Hughes of defaming him in a post he authored and published on Facebook on December 21, 2015, titled “RE: AMERI TRANSACTION”.
According to the Deputy A-G, the “false and malicious” post has provoked “public disaffection” against him and exposed him to public ridicule and contempt.
Describing Mr Hughes as a “self-styled social media blogger and a social commentator”, Mr Ayine said the Facebook post had brought his hard-won reputation “as a respected politician, teacher and lawyer” into “hatred, ridicule, odium, discredit, contempt, opprobrium and reproach”.
The Deputy A-G said the “defamatory words” were authored with the sole intent to reduce him in the estimation of all right thinking Ghanaians, adding that he had received numerou…

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…