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ghana's economy grows 23% in 2011 on oil production
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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I cant wait for uganda to join this party in 2014 Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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I am not in doubt please kindly provide the link to educate others or authenticate your source of info vis-a-vis the facts and figures of the growth estimate. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Hehehe Joke of the day Ghana's Economy contracted 5.1% in Q1 2011 http://mobile.reuters.co...5L0EA20110622?edition=af
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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@the deal I do not know what kind of research you do...BUT IT SUCKS!!!!! http://www.bloomberg.com...3-on-oil-production.htmlMark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Two respectable financial news agencies, two distinct growth figures !!! Reuters Vs Bloomberg The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Sources from both Reuters & Bloomberg from the same
Grace Bediako of Ghana Statistical Service !!!The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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@the deal I do not know what kind of research you do...BUT IT SUCKS!!!!! http://www.bloomberg.com...-on-oil-production.html[/quote] Hehehe I dont like it when ladies get emotional http://mobile.reuters.co...L0D620110622?edition=af
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Most blame goes to the reporters of respectable Reuters & Bloomberg. No point to quarrel, we are all friends. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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This kind of reporters blunder do happens at times, difficult to know which info is authentic unless one digs into other news agencies and even Ghana newspapers. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
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Young, Guru, Please read the article below the refer to the link here http://useconomy.about.c...f/GDP_Growth_Rate.html.
There is no contradiction but the statistician chose language than can easily throw journalists such as Washington Akumu, Muna Wahome and James Makau off guard. ACCRA (Reuters) - Ghana's economy contracted 5.1 percent in the first quarter of this year, after growing 5.5 percent in the previous quarter, the country's statistics office said on Wednesday. Government Statistician Grace Bediako said GDP expanded 23 percent from a year earlier, however. Bediako said negative growth in the first quarter was mostly due to agriculture, which she said shrank by 35.7 percent due to seasonal patterns. "Primarily because of the negative growth in agriculture, we have an overall negative GDP growth in the first quarter," Bediako added, saying GDP was 6.7 billion cedis in Q1 2011 compared to 7 billion cedis in the previous quarter.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Your desire to prove me wrong is clouding basic judgement here.. Dude when you read the reuters article Did you REALLY believe that an african economy that started oil production in 2011 contracted 5%??? Do you know the catastrophe that has to happen before an economy can fall 5% Not even middle east with its chaos will fall 5% and the US didnt even fall close to that in the height of the crisis @the deal if you do not use common sense when carrying out research then it will be flawed Mark 12:29
Deuteronomy 4:16
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Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
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Guru & the deal, I think what Bediako meant was that the growth rate in quarter 1 2011 was 5% less than the growth in quarter 1 of 2010. However, it is not true that Ghana's economy grew 23% in Q1 2010. 2.3% is more like it. FYI the real GDP growth rate in 2010 was a paltry 2.8%. However, the WB predicts that a growth rate of 13% will be achieved in 2011. the effects of oil production and export may not be immediately realised. However, growth in infrastructure will literally fuel a boom.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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@guru I dont like people who get emotional over things like stocks...Hold your emotions...i gain nothing in proving you wrong...read what accel has written above...Bloomberg is comparing year on year I.e Q1 2010 vs Q1 2011 while Reuters is comparing Quater to Quater I.e last quater vs 1Q 2011...now FYI I respect Reuters over Bloomberg...once again stop being too emotional.
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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THIS LOOKS MORE LIKE IT LADIES & GENTLEMENGhana GDP contracts 5.1 percent in First quarter 2011 Ghana's economy contracted 5.1 percent in the first quarter of this year, after growing 5.5 percent in the previous quarter, the country's statistics office said on Wednesday. Government Statistician Grace Bediako said GDP expanded 23 percent from a year earlier, however. Bediako said negative growth in the first quarter was mostly due to agriculture, which she said shrank by 35.7 percent due to seasonal patterns. "Primarily because of the negative growth in agriculture, we have an overall negative GDP growth in the first quarter," Bediako added, saying GDP was 6.7 billion cedis ($4.44 bln) in Q1 2011 compared to 7 billion cedis in the previous quarter. sOURCE :- http://www.businesslive....t-in-first-quarter-2011
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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@the deal comparing q1 last year to q1 2011 is a year on year comparison not a quarter on quarter comparison but since common sense has refused to prevail here I rest my case.. Politically stable, oil producing and fiscally sound ghana fell 5% while politically unsound, drought ridden and inflation stricken kenya grew 5.6% in q1..  (it sounds even dummer when I write it) In my opinion if kenya grew 5.6% and uganda 8% in q1 then why is it sooo shocking for ghana that began oil production to grow 23% in q1?!??logic and common sense prevent an economy from falling 5% without a substantial economic shock Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 7/21/2010 Posts: 6,184 Location: nairobi
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Their biggest achievement is a fast maturing democracy. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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This arguement is getting round robin. Bottom line the investors are bullish on Ghana at the first instance as from 2011 and on a later date Uganda on the second instance. To have a slice of Ghana financial instruments visit :- www.databankgroup.comWhich is one option out of several others. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Fact: ghana grew 23% Fiction: ghana contracted 5.1% Its that simple Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Enough pple. You are blocking my sun.
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ghana's economy grows 23% in 2011 on oil production
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