GSS to rebase Ghana's economy by May 2018

The Ghana Statistical Service (GSS), is hoping to complete the process of rebasing Ghana’s economy by May this year (2018).  

This means the current 2006 base year for calculating Ghana’s Gross Domestic Product (GDP), which refers to the monetary value of all the finished goods and services produced within a particular period, will move to 2013. 

The exercise is in fulfillment of international practice which requires countries to rebase their economies at least after every ten years. 

For instance, Ghana’s GDP which stood at about 127 billion cedis in September 2017, is expected to increase.  

This is because, the economic managers would have taken into consideration other economic activities such as oil exploration and associated businesses which had taken place between 2006 and 2013. 

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