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General News of Wednesday, 15 November 2017

Source: Class FM

2018 Budget: 7.8% real GDP achieved

Ghana’s economy hit a real Gross Domestic Product (GDP) of 7.8 per cent as of June 2018, Finance Minister Ken Ofori-Atta has said.

Presenting the 2018 Budget and Economic Policy Statement to parliament on Wednesday, 15 November under the theme: “Putting Ghana Back to Work”, Mr Ofori-Atta said Non-Oil real GDP (as of June) was 4.0%.

The overall budget deficit on cash basis as percentage of GDP as of September was 4.5% and the primary balance as of September was 0.3%.

Current account balance as of August is 0.2% and Gross International Reserves (import cover) as of September stands at 3.9%, he said.

For the sector growth in 2017, Mr Ofori-Atta said Agriculture was 4.3% ; Industry recorded 17.7% and Services achieved 4.7% growth.

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