Business in Ghana

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Archive for July 13th, 2012

ROBUST FIRST QUARTER PERFORMANCE KEEPS ECONOMY ON GROWTH TARGET

Posted by Business in Ghana on July 13, 2012

Source: Center For Policy Analysis (CEPA), Ghana.  http://www.cepa.org

Introduction

The Ghana Statistical Service (GSS) currently provides three interrelated measures of real GDP. For any specified period of time  typically a quarter or calendar year  real GDP is the constant price (2006) value of relevant economic activities in that specified period. Constant prices are used in the valuation in order to eliminate the effect of inflation which otherwise could confuse the assessment of economic performance. The growth rate is obtained by comparing the value of the current period with that of a previous period. The three measures of data are the following:

  •  year-on-year for each of the four quarters of the calendar year, defined by GSS as comparing current economic developments with that of the same period in the previous year. There is little or no influence by seasonal factors;
  •  quarter-on-quarter for each of the four quarters in comparison with the preceding quarter defined by GSS as providing a short-term (six months) picture of current economic developments. The estimates are influenced by seasonal factors that are caused by economic behaviour or recurrent exogenous factors such as weather patterns, holidays, religious events etc ; and
  •  the current calendar year compared to the previous calendar year  the more common measure used in public discussions, as for example: the economy grew at 14.1 percent in 2011.

Moreover, all of the above measures of economic performance are subject to periodic revisions. According to the GSS, revisions provide the opportunity for incorporation of additional and improved data. For example, some data that were not available at the released date are incorporated through revisions into subsequent releases. Read the rest of this entry »

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Let Us Nullify MPs Common Fund (Constitutional Amendment Needed)

Posted by Business in Ghana on July 13, 2012

By ERIC AGBESI DZOKOTO, Eric Djagbesiydd@yahoo.com>

Discerning citizens have watched with glee since the inception of the Fourth Republic the utilisation of the MPs Common Fund, which was provided for in the 1992 Constitution and institutionalised. It has become a largesse for the political class. Where is the accountability element? Some of us did not wish that the democracy   How come that the framers of the Constitution and the Consultative Assembly did not leave MPs to concentrate on their core business of law making and playing their watch door roles or oversight responsibility of the executive branch of state. In fact, there is too much wastage of state resources by our so called leaders across board and it is high time Civil Society Organisations wake up and confront the seeming monitisation of the Ghanaian polity. Read the rest of this entry »

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