Jakarta, CNN Indonesia –
Head of Statistics Samuel Kobina Annim said Ghana last recorded negative growth in 1983, when the country was experiencing a severe drought.
“The Ghanaian economy contracted 3.2 percent compared to 5.7 percent growth in the same quarter in 2019,” said Annim. AFP, Thursday (17/9)
Annim explained that the cause of the economic contraction in the second quarter of 2020 was none other than the corona virus pandemic. The West African country has been on a three-week lockdown in several parts of the country, including the capital Accra in March.
The lockdown in the region has paralyzed the business sector, thus depressing their income.
“Even after the restrictions were lifted, many cross-cutting businesses continued to close,” he said.
Nearly 50,000 companies in the manufacturing sector were directly affected by the restrictions. Meanwhile, the hotel sector recorded the highest decline in income by 76 percent over the same period last year.
However, Annim is optimistic that the economy will bounce back after the right policies are implemented by the government.
“It is possible that we will see a reversal of the contraction that we are seeing,” he explained.
The country of 30 million inhabitants has officially announced 45,655 coronavirus cases. Meanwhile, the death toll from the virus reached 294 people.
(ulf / one)