• 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

Government Statistician cautions against negative GDP growth projection by analysts

5 years ago
in Economy, highlights, Home, home-news, latest News
1 min read
0 0
0
75
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Government Statistician, Professor Samuel Annim, has cautioned against the projection of a negative Gross Domestic Product (GDP) growth for the country this year.

Some analysts following the announcement by the Ghana Statistical Service (GSS) that Ghana’s economy had gone into a recession on the back of contraction for two consecutive quarters, forecasted that the economy is going to record a negative growth for the last quarter of the year, thereby causing the economy to go into a full recession.

But reacting to the negative growth projections, Prof Annim speaking on Joy News’ PM Express and monitored by norvanreports, noted that analysts ought to be circumspect with their projections.

“If you look at it from a quarter-on-quarter basis, then yes the economy has contracted and we are in a recession, but if we want to declare 2021 as a year of recession then one has to be circumspect in doing that, because although two quarters out of three have recorded a contraction, one also has to take into consideration the absolute figures and how the different subsectors will particularly play out in the last quarter,” he stressed.

The economy, according to recent data from the GSS has contracted for two consecutive quarters indicating a recession.

The economy first contracted in the second quarter of this year by some 3.2 per cent following the outbreak of the Covid-19 pandemic in the country.

Following that, the economy although having shown signs of a rebound on the back of sound fiscal and monetary policies, contracted by 1.1 per cent in the third quarter of this year.

RelatedPosts

Public Transport Fares to Rise by 20% From August 8 

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

Source: norvanreports
Tags: Negative GDP growthProfessor Samuel Annim
No Result
View All Result

Highlights

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

Transfer DealSheet: Latest on Benjamin Sesko, Nicolas Jackson and More

Gov’t Targets 650,000 Tonnes of Cocoa Production for 2025/26 Crop Season, Eyes 1 Million Tonne Output in the Long-term 

Shoprite to Exit Ghana and Malawi Sharpening Focus on Core South African Market

Gold Fields Forecasts Total Gold Production of 2.4 Million Ounces for 2025

Gold Fields Projects 236% Rise in H1 Profit on Strong Output and Record Gold Prices

Trending

Business

Public Transport Fares to Rise by 20% From August 8 

August 5, 2025

Public Transport Fares to Rise by 20% From August 8  Public transport fares across Ghana are set...

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

August 5, 2025

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

August 5, 2025

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

August 5, 2025

Transfer DealSheet: Latest on Benjamin Sesko, Nicolas Jackson and More

August 5, 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.