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Post-coronavirus: Key sectors need support to boost recovery - Economist
A Senior Economist with investment banking firm Databank, Courage Martey says deliberate policy measures are needed to support critical sectors of the economy to support the economic recovery efforts following the effect of the pandemic.
He was speaking to the Business24 after the Ghana Statistical Service (GSS) announced that the economy contracted by 1.1 percent in the third quarter of this year. The contraction is a stark contrast to the 5.6 percent recorded within same period last year.
The third-quarter contraction follows a 3.2 percent contraction in the second quarter.
According to the GDP data released on Wednesday, despite the slump, the agriculture sector recorded a remarkable growth of 8.3 percent while the Industry and Services sectors contracted, -5.1 and -1.1 percent, respectively.