Business in Ghana

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Posts Tagged ‘Informal Sector’

2012 Budget Missed The Point

Posted by Business in Ghana on November 20, 2011

By Sydney Casely-Hayford, Sydney@bizghana.com

A day before budget reading there was no shortage of advice for the Government.  Most Policy Think Tanks and talking heads offered all the wisdom they had accumulated over the year(s).  Even the opposition New Patriotic Party and the Convention People’s Party had a few kind suggestions for Finance Minister Kwabena Dufuor.  It did not take five minutes after the dead-pan-budget presentation for the cacophony to start.  And there was a lot to criticize.

The Finance Minister is a conservative banker and economist and the President John Atta Mills is ultra conservative.  No surprise therefore that we got a very unimaginative budget with no major departures from previous years.  In fact, most comments from the opposition harped on the fact that current projects carried forward from 2009, 2010 and 2011 budget statements.  How many times are we going to build the landing sites for fisher-folk on the coast?  It started with the NPP Government and we have re-budgeted for it three years in a row from 2009. Read the rest of this entry »

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Posted in Financial Services, Sydney Casely-Hayford | Tagged: , , , , | 1 Comment »

The Composite Index of Economic Activity is Improving, So What, says the Informal Sector

Posted by Business in Ghana on October 30, 2011

By Sydney Casely-Hayford, Sydney@bizghana.com

The Bank of Ghana (BoG) uses an aggregate of indexes, grouped and called the Composite Index of Economic Activity (CIEA) to guide the Bank’s Monetary Policy Committee in its bi-monthly report and policy interest rate setting.

The CIEA gets little mention in the financial press compared to its more well-known counterpart the Gross Domestic Product (GDP).  The GDP is produced by the Ghana Statistical Service (GSS) and the CIEA is a BoG product.  However, according to the Monetary Policy Analysis Division of the BoG, the CIEA tracks the GDP very closely and is taken by the BoG as a very good indicator of business confidence.

Once a month the Monetary Policy Analysis Division (MPAD) of the BoG undertakes a real sector survey of the economy.

Let me explain the CIEA a little more. Read the rest of this entry »

Posted in Financial Services, Sydney Casely-Hayford | Tagged: , , , , , , , , , | 3 Comments »