Ghana's economy may be bigger than estimated - Government Statistician

The Ghana Statistical Service has confirmed the economy may be much bigger than it is presently estimated. Gross Domestic Product (GDP), which measures the total value of goods and services produced, is presently estimated at about $22 billion. Head of Research at Standard Bank of Africa Stephen Bailey-Smith is quoted by Bloomberg as saying the bank’s research indicates the GDP figure may have to be revised upwards by about 15 percent. This would put the current GDP at about $33 billion. Government Statistician Dr. Grace Bediako would not go into specifics, even though she agrees there is some underestimation. Speaking to Joy Business, Dr Bediako said the service is still collating data and would soon come out with a new GDP figure for the economy. Read more