Ghana’s GDP for 2012 expected to be above 8%

The President, John Dramani Mahama says Ghana’s GDP growth for the year 2012 is expected to reach above 8 percent, when the final estimates are completed.

“GDP growth is expected to be about 9 percent when the final estimates are done, as we have targeted above 8 percent ,” he told Ghanaians resident in Ethiopia Monday January 28, 2013.

President Mahama was addressing Ghanaians working in Ethiopia and delegates who attended the 20th Ordinary Session of the African Union Summit of Heads of State and Government at a reception held in his honour at the residence of the Ghanaian Ambassador in the Ethiopian capital, Addis Ababa.

Since 2011, Ghana’s GDP has seen dramatic growth. Year-on-year GDP in the third quarter of 2011 grew at 12 percent, with an end-year projected outturn of 13.6 percent, mostly driven by the oil sector, and  non-oil GDP growth was estimated to have expanded by 8.2 percent.

The International Monetary Fund (IMF) has projected a real GDP growth in Ghana for the year 2012 to be 8.8%. The IMF made the projection in its April 2012 World Economic Outlook (WEO) released April 17, 2012 citing robustness of the economy.

President Mahama assured the Ghanaians that the country is doing well.

The President and the citizens also watched the football match between Ghana and Niger at the ongoing African Cup of Nations tournament in South Africa. Ghana won the match by 3-0 to top Group B and to qualify for the quarter finals.

By Emmanuel K. Dogbevi, in Addis Ababa, Ethiopia