8-Oct-2010 2:57 PM

Ghana's economic growth may be under-estimated by 50%

Ghana’s statistics agency will release revised economic growth figures for the past four years, following a plan to re-calculate the way gross domestic product is valued in the nation (Bloomberg, 07-Oct-2010). International Monetary Fund representative Wayne Mitchell stated the data may mean the economy, which will grow by 5.9% in 2010 with GDP of USD17.95 billion according to an estimate made using the current base, is “40 to 50% bigger than previously thought”. The revised figures will be released before the finance ministry announces its budget for 2011 (mid Nov-2010).