Improve productivity in Agric sector – Gov’t told

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An economist, Courage Martey, has asked the government to map-up policies targeted at improving productivity in the Agriculture Sector as the Country continues to combat the covid-19 pandemic.

He said it is imperative for Government to support the Agriculture Sector with the needed capital and logistics to shore-up growth and development for economic transformation during this pandemic.

Ghana’s Agriculture Sector expanded by 2.8% after the Services Sector recording highest growth rate of 9.5%.

Courage Martey emphasized the need for Agricultural transformation in the midst of the pandemic.

“When you look at what happened during the lockdown when there was surge in the demand for food items, panic buying and stock piling because a lot of people were going to be locked down, the first thing for mankind’s survival is food which is  a basic necessity.

“It tells you that government policies must really target increased productivity in the agricultural sector so that we see an improvement in the supply chain of food items especially vegetables,” he said.

The Ghana Statistical Service (GSS) has revealed Ghana’s economy grew by 4.9% in first quarter of 2020, compared to a growth rate of 6% of Gross Domestic Product the same period in 2019.

The GSS, the Services sector recorded the highest growth rate of 9.5% followed by the Agriculture sector which expanded by 2.8% and the Industry sector by 1.5%.

The main sub-sectors driving GDP growth in January to March 2020 GDP were Information & Communication, Manufacturing, Education and Public Administration & Defence, Social Security.

Importantly, the services sector was the main driver of Gross Domestic Product growth contributing 3.6 percentage points to overall GDP growth rate of 4.9% in quarter one, 2020.

From the figures above, the services sector GDP particulalry was not impacted by COVID-19 in the first quarter because the lockdown took place on the last day of March 2020.

In the Services sector, Information and communication grew by 17.1% in the 1st quarter of 2020 compared to 14.6% in the 4th quarter of 2019.

The Real Estate however slowed to 3.8% in the 1st quarter of 2020 from 6.8% recorded in the 4th quarter of 2019.

Compared to 4th quarter of 2019, the Public Administration & Defence, Social Security expanded to 3.3% in 2020Q1.

There were contractions in the sub-sectors: Trade, Repair of Vehicle, Household Goods (-1.0%) and the Professional, Administrative & Support (-1.5%) sub-sectors.

Within the Industry sector, the Electricity sub-sector recorded 4.1% GDP in the First quarter of 2020, compared to 2.6% growth recorded in the 4th quarter of 2019.

Water Supply, Sewerage, Waste Management & Remediation Activities sub-sector grew by 2.5% in quarter one of 2020, compared to -0.5% in the 4th quarter of 2019. Manufacturing sub-sector grew by 1.3% in 1st quarter of 2020, compared to 1.8% in the 4th quarter of 2019.

The Mining and Quarrying sub-sector however slowed to 0.3% in the 1st quarter of 2020, from 1.6% recorded in the 4th quarter of 2019

Construction recorded the least growth rate of growth rate of -1.7% in First quarter of 2020 compared to -0.6% in the 4th quarter of 2019.

In the Agriculture sector, the Fishing sub-sector grew by 2.6% in the First quarter of 2020, compared to 2.2% in the 4th quarter of 2019.

The Livestock subsector recorded 1.3% growth rate compared to 1.7% growth rate recorded in the 4th quarter of 2019.

The Crops sub-sector grew by 0.6% in the 1st of 2020, compared to 2.0% in the 4th quarter of 2019.

 

Source: Laudbusinessc.om/Ghana

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