GSS pushes for diversification of the local economy
The Ghana Statistical Service (GSS) is pushing for the transformation of the local economy from one driven by micro and small industries to one that is largely supported by a diversification in the medium and large scales industries.
According to the Service, this will give a boost to the economy and ensure the growth of the Gross Domestic Product of the country.
These comments were made by the government statistician, Professor Samuel Kobina Annim during the launch of the National Steering Committee of the 2023 Integrated Business Establishment Survey in Accra.
“Indeed, we have less than 2 per cent of the firms which are medium and large in terms of the numbers of firms that we have. So going forward we need to ask ourselves that as country coming up with the 2023 IBES what is our target in terms of transforming the economy away from micro and small businesses to medium and large businesses,” he explained.
“What we have seen over the period consistent with our previous surveys is that the economy is heavily reliant on micro and small businesses,” he noted.
Professor Samuel Annim further underscored the need for stakeholders to pay keen attention to the sub classes within the manufacturing sector.
“If you break down the industries the four times is mimic in the manufacturing sector and the manufacturing sector is the dominant within the industry sector but if really, we want to diversify our economy and think about what should be done in the other sectors within the industry sector then the other areas that we should be looking at is the construction, electricity and power and mining and quarrying,” he added.
Source: Ghana Business
