Agricultural sector recorded growth in 2012 - Finance Minister

Mr Seth Terkper, Minister for Finance has said apart from Forestry and Logging, all the sub-sectors recorded higher growth rates in 2012 than those of 2011, with the Crops and Fishing sub-sectors making the largest contribution to agricultural output in terms of shares.

The Minister said this on Tuesday when he delivered the budget statement on the floor of Parliament in Accra.

He said but for the poor performance in the Forestry and Logging sub-sector which was as a result of the decline in reforestation programme and reduction in the number of permits awarded to timber contractors, the agricultural growth performance would have been much higher.

“It is worth noting that the improvement in growth in the Agriculture Sector from 0.8 per cent in 2011 to 2.6 per cent in 2012 was partly due to prudent policies and strategies such as the scaling-up of the fertilizer subsidy, agriculture mechanization and livestock and fisheries development programmes”, he stated.

He further indicated that the hard work of Ghanaian farmers and other stakeholders in the Sector also contributed to the improved performance of the Sector.

Mr Terkper said output of the Fishing sub-sector which contracted by 8.7 per cent in 2011, grew by 2.3 per cent in 2012 due partly to the significant investments in the aquaculture component of the Youth in Agriculture Programme among others.

He said the growth in the agriculture sector was an indication that it could be used to serve as the basis for sustainable youth employment and entrepreneurship development.