<\/p>\n
One of the car assembling plants<\/em><\/strong><\/p>\n GHANA\u2019S GROSS Domestic Product, GDP), is most likely to hit a double digit in the next couple of years if the private sector is given the need financial support.<\/p>\n According to the Alliance for Development and Industrialisation (ADI), a civil society organisation, \u201cthe country \u2018s GDP is poised to record double digit, if industries are given long term affordable credit facility which would enable them to expand their productions for export.<\/p>\n The latest figures released by the Ghana Statistical Service, (GSS), depict that the economy expanded by 4.8 percent of GDP. However, the manufacturing sector recorded a GDP growth of 8.8 percent by the second quarter of this year.<\/p>\n This means that government\u2019s industrial policy has begun yielding the optimum results and if the needed support is given to the private sector the country would soon achieve a double-digit GDP, this was contained in a statement issued in Accra and signed by Richard Danso, the president of ADI.<\/p>\n According to the ADI, Ghana is most likely to recoup about US$3billion through import substitution in the wake of the speed depreciation of the country\u2019s fait currency, the cedi.<\/p>\n The cedi started its free fall from the beginning early this year which has almost depleted the country\u2019s Gross International Reserves.<\/p>\n But, according to the Alliance for Development and Industrialization, (ADI), the depreciation of the cedi has positioned the country to be self-dependent and a good destination for export.<\/p>\n \u201cWhat we need to do now as a country is to position ourselves and produce more to support the country and the continent as a whole,\u201d it said.<\/p>\n \u201cNow that importation has now become unattractive, the financial institution should begin to look into supporting import substitution\u201d, it said.<\/p>\n This, according to the ADI, it would help support the country\u2019s balance of payment as well as stabilise the cedi.<\/p>\n \n\t<\/div>\n","protected":false},"excerpt":{"rendered":" One of the car assembling plants GHANA\u2019S GROSS Domestic Product, GDP), is most likely to hit a double digit in the next couple of years if the private sector is given the need financial support. According to the Alliance for Development and Industrialisation (ADI), a civil society organisation, \u201cthe country \u2018s GDP is poised to […]<\/p>\n","protected":false},"author":1,"featured_media":1209668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[26131,677,1984,1327],"class_list":["post-1209667","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-digit","tag-double","tag-gdp","tag-hit"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1209667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1209667"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1209667\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1209667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1209667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1209667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}