Business News of 2012-10-05

Ghana's poverty rate at 26%

From next week Monday to September next year, the Ghana Statistical Service will conduct the Sixth Ghana Living Standard Survey.

This will give the nation a clear picture regarding the number of Ghanaians who are poor.

But before the survey will even start, the World Bank is predicting a 26 percent poverty rate in the country compared to an estimated 28.5 percent in 2006.

Acting Government Statistician, Philomena Nyarko who launched the survey at Winneba in the Central Region today said the objective of the survey is to help the country update the national accounts.

She said the “GLSS is to be conducted over a period of one year” and will collect data on the demographic characteristics on the population and households.

Dr. Nyarko said the aim of the project is “to provide information on the pattern of household consumption and expenditure, serve as the basis for the construction of the consumer price index” among others.

Dr. Nyarko also said beginning October this year the Ghana Statistical Service will be conducting annual labour surveys to help gather data on Ghana’s unemployment situation towards helping design policies to tackle the problem.