• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Ghana’s economy is believed to have expanded by 8.9% in Q2 2021

4 years ago
in Economy, highlights, Home, home-news, latest News
2 min read
0 0
0
107
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana’s economy is believed to have expanded by 8.9% in Q2 2021

Ghana’s economy, according to accounting and audit firm, Deloitte Ghana, for the second quarter of this year expanded by 8.9 percentage points.

The expansion according to Deloitte Ghana, was driven mainly by the Agriculture sector which posted an 18 percentage points growth rate in the second quarter.

The 18 percentage points growth rate of the Agriculture sector compares favourably to the 4.3 percentage points growth rate recorded in the first quarter of this year.

Deloitte Ghana’s growth projection for Q2 2021, is however yet to be confirmed by the Ghana Statistical Service (GSS) – the sole government agency mandated with measuring the country’s GDP performance.

“The estimated Gross Domestic Product for 2021 is about ¢433 billion. This represents a growth of 8.9% compared to GDP as of the same period 2020. The key driver of the growth was the Agriculture sector which grew by about 18%, largely on account of growth in the Crop subsector. We believe that some of the programmes and activities introduced by government are beginning to yield results, particularly those that support the Crop sub sector”.

“Also, we saw a significant growth in the Services sector, particularly in the Hotels and Restaurants sub sector. As we noticed, the Covid-19 adversely impacted on this sector, but we see some recovering in the economy – we see some activities going on in the Hotels and Restaurant sub sector. That contraction we witnessed last year of about 44% contraction, we’ve see a growth this year and that is driving the Services sector to grow at about 9%”, stated Yaw Lartey, Partner in charge of Financial Advisory at Deloitte Ghana.

RelatedPosts

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

Read This: COCOBOD loses Ghs 96.9 million to 24 LBCs – Auditor-General

The economy witnessed a pick-up in economic activity in the second quarter of this year, compared with the same period of last year in which there was virtually non-existent demand and supply due to the partial lockdown and restrictions.

According to Deloitte, initiatives such as the Ghana CARES ‘’Obaatan Pa’’ programme, is expected to aid in the recovery of the economy post-COVID and expected to increase in business activity.

Deloitte Ghana has also noted that, with the general increase in economic activity this year, government is expected to achieve its targeted growth rate of 5 percentage points of GDP.

The accounting firm, however, cautioned the country to be mindful of the third wave of the Covid-19 pandemic.

“The general increase in economic activity in 2021 is expected to help achieve the targeted growth of 5 percent. However, a critical success factor is how well we handle the rising COVID-19 cases. A strict enforcement of COVID protocols, as well as an effective roll out of COVID vaccination, will sustain the economic recovery process,” the accounting firm pointed out.

Tags: agriculture sectorCOVID-19 pandemicDeloitte GhanaEconomyghanaGhana's economy is believed to have expanded by 8.9% in Q2 2021GSS
No Result
View All Result

Highlights

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

Deputy Finance Minister Hints 2026 Budget to Prioritise Fiscal Discipline and Job Creation 

FirstBank and Coronation Insurance Strengthen Partnership to Deliver Greater Value to Customers

Specialised Financial Courts to Prosecute Persons Indicted in Auditor General’s Annual Report, Says President Mahama

Top 50 Mining Companies Surge to New Record Near $2 Trillion Valuation

Trending

Banking & Finance

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

October 21, 2025

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach Shareholders of GCB Bank PLC may have to...

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

October 21, 2025

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

October 21, 2025

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

October 21, 2025

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

October 21, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.