| |
 |
| |
SPONSORSHIP
AD HERE |
|
 |
|
|
News |
| We invite
commentaries from writers all over. The subject is about
Ghana and the world. We reserve the right to accept or
reject submissions, but we are not necessarily responsible
for the opinions expressed in articles we publish. |
| |
|
|
|
|
|
 |
x
|
|
|
From:
Kwaku Kwarteng
Member of Parliament
Obuasi West Constituency
Republic of Ghana
To:
Minister
Ministry of Finance
Accra
Hon Minister, FALSE GDP GROWTH FIGURE IN
2015 BUDGET STATEMENT
Almost everything in the management of our
economy depends on our Gross Domestic
Product (GDP) figures. The real GDP growth
figure reflects the pace at which we are
generating economic activity and creating
jobs for our people. The amount of money
printed by the Bank of Ghana depends on our
GDP figures. Our public debt, revenue,
arrears and many other important variables
are stated as ratios of our GDP. Therefore a
wrong determination of GDP-related figures
could have very serious consequences for the
general management of the economy and our
ability to improve the lives of our people.
It is for this reason that I write to draw
your attention to the false real GDP growth
figure reported in the 2015 Budget Statement
that you presented to Parliament yesterday.
In paragraph 40 and other parts of the
budget statement, you state that the economy
would expand in real terms by 6.900
percent at the close of 2014.
In fact, you additionally present the
following graph to illustrate the trend of
growth figures between 2008 and 2014:
Figure 1: Annual GDP Growth Rate, 2009-2014
|
But in the tables of the same 2015
Budget Statement, you provide the
following absolute figures for the
volumes of economic activity
generated in 2013 and 2014.
ACTIVITY (GH˘ million)
|
2013 |
2014 |
|
1. AGRICULTURE |
7,003.38 |
7,371.87 |
|
2. INDUSTRY |
8,528.24 |
8,917.82 |
|
3. SERVICES |
15,582.90 |
16,298.49 |
|
GROSS DOMESTIC PRODUCT AT BASIC
PRICES |
31,114.52 |
32,588.18 |
|
Indirect Taxes |
2,714.13 |
2,840.21 |
|
Financial Intermediary Services
(Indirectly Measured) |
1,314.63 |
1,404.04 |
|
GROSS DOMESTIC PRODUCT IN
PURCHASERS' VALUE |
32,514.02 |
34,024.35 |
From the figures you have
provided, GDP (in purchasers' value) only
grew in real terms from GH˘32,514.02 million
in 2013 to GH˘34,024.35 million in 2014.
This represents 4.645 percent growth, not
the 6.900 percent you have reported.
This is serious misreporting that undermines
the credibility of the entire budget
statement and economic policy of the
government.
Please take immediate steps to correct this
misrepresentation before businesses and
other interested entities (both local and
international) use this wrong figure for
their purposes.
Thank you.
Kwaku Kwarteng
(MP, Obuasi West Constituency
Parliament House, Accra,
Ghana. +233 244 838 735 or +233 204 838 735
kwaku@kwarteng.com |
|
|
|
|
|
|
|
|
|
| |
 |
 |
IMF Staff
Concludes Mission to Ghana
IMF, Nov 21, Ghanadot - An
International Monetary Fund (IMF) mission,
led by Mr. Joël Toujas-Bernaté, visited
Accra from November 6 to 20, 2014, to
discuss the authorities’ economic and
financial program and its possible financial
support by the IMF.
........More
|
|
|
BAWUMIA: NPP BORROWED $5.5BN IN
8YRS, NDC $27BN IN 6YRS
Release, Nov 17, Ghanadot - The 2016 Vice
Presidential Candidate of the New Patriotic Party,
Mahamudu Bawumia, has warned Ghanaians, “the stakes are
high for our country in 2016 because of what is
happening to the economy” and to allow the NDC to stay
one day in office beyond the eight years would be a
major tragedy for the future of Ghana.........More |
|
|
|
|
There was no need inviting
Woyome, Betty Mould – Commission
CitiFM, Nov 07, Ghanadot - We felt that there was
no need inviting Betty Mould Iddrisu, Woyome etc the
reason is that we had a lot of dossier on them. We had
also written to them. They themselves had provided
dossier on what they had done and we then we ourselves
through our own research had gathered a lot of
information that they did not know about them on them so
we would sieve those information and whatever
conclusions we want we will get them out of those
documents. - . More
|
|
|
FALSE GDP GROWTH FIGURE IN
2015 BUDGET STATEMENT
Release, Nov 21, Ghanadot - From the
figures you have provided, GDP (in
purchasers' value) only grew in real terms
from GH˘32,514.02 million in 2013 to GH˘34,024.35
million in 2014. This represents 4.645
percent growth, not the 6.900 percent you
have reported....This is serious
misreporting that undermines the credibility
of the entire budget statement and economic
policy of the government.....More
|
|
|
|
|
|
|
|
| |
SPONSORSHIP AD HERE |
|
|
|
|
|
