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Ghana: First CONTRACTION IN GDP IN 37 YEARS IN THE SECOND QUARTER

17/09/2020
Source : afriquinfos.com
Categories: Economy/Forex

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Ghana saw its economy, affected by the Covid-19 pandemic, contract by 3.2% year-on-year in the second quarter, a first since 1983, the National Statistics Service (GSS) said on Wednesday.

Between April and June, "for the first time in 37 years, Ghana's economy contracted by 3.2 percent," Samuel Kobina Annim, the chief statistician, told reporters. growth was 5.7%," the GSS recalled.

Relatively spared by the virus (more than 45,000 cases and 294 deaths recorded), Ghana nevertheless imposed in March and for three weeks a lockdown in some parts of the country, including the capital Accra.

The measure paralyzed companies and affected their turnover: "Even after the lifting of restrictions, many companies in various sectors kept their doors closed," explained Mr. Kobina Annim.

The statistician considered it "possible" for a return to growth in an economy that has not experienced a decline in annual GDP since 1983. At the time, it contracted by 6.2% according to figures from the International Monetary Fund.

A country reputed to be stable, Ghana is a major exporter of gold, oil and cocoa.

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