GDP hits 6.6%

The Akufo-Addo-led government was able to achieve a real Gross Domestic Product (GDP) of 6.6 percent in the first quarter of 2017, Finance Minister Ken Ofori-Atta has said.

This was contained in the presentation of the mid-year budget review on Monday, July 31.

The erstwhile National Democratic Congress (NDC), however, achieved 4.4 per cent for the same period in 2016, per the figures provided Mr Ofori-Atta.

Agriculture was 7.8 per cent against 5 per cent for the same period in 2016; Industry was 11.5 per cent against 1.8 per cent for the same period in 2016 and Services was 3.7 per cent against 6.6 per cent for the same period in 2016.

Non-oil GDP growth rate was 3.9 per cent against 6.3 per cent for the same period in 2016.

The minister said inflation was 12.1 per cent at the end of June, down from 15.4 per cent at the end of December 2016.

The 91-day T-bill rate was 12.08 per cent at end June, down from 16.4 per cent at the end of 2016 while the country’s Gross International Reserves stands at US$5.9 billion in June, up from US$4.9 billion at the end of December 2016.