The festive season is upon us, and while the cheer has begun in various households, traders in the Bolgatanga municipality in the Upper East Region have complained of low sales in the Christmas Market.
Within a season many in Ghana consider exceptional, it is common during this period to see families trooping to various shopping centres in every community for goods but the trend is gradually swirling away in the Upper East Region, XYZ News Correspondent Samuel Mbura has reported.
Mbura reports that celebrants are complaining of hardened economy which has resulted in low patronage despite the onset of the Christmas.
Some of them, he says, cannot point out the reasons behind the low patronage, and are so worried it will have a bad effect on how their celebration will be this year.
Some of them also said they believe there is no money in the country. Other customers who spoke to XYZ News observed that there have been price hikes hence their budget is not able to cater for their needs on the market.
Economy Grows 9.3 In 3rd Quarter
Meanwhile, the Ghana Statistical Service has revealed that the country’s Gross Domestic Product (GDP) expanded 9.3 per cent in the third-quarter of 2017, anchored on growth in the industrial sector with 0.3 per cent increment from what was recorded in the previous quarter, and 4.7 per cent higher than the 4.6 per cent recorded in the third-quarter of 2016.
In monetary terms, the economy (including the oil sector) is worth some GH₵53.1billion when adjusted to inflation, compared to the GH₵44.4billion it was worth in the same period last year.
And in constant terms, using 2006 as the base year, the economy in the third-quarter of 2017 is worth GH₵10.8 billion compared to GH₵9.9 billion in the same period last year.
Also, in sectoral terms, the industrial sector outperformed the two other sectors – agriculture and services – growing by 16.6%, whereas agriculture and services grew by 10 and 5.7 per cent, respectively.
However, the services sector maintained its position as the largest contributor to the economy with 53.4%– followed by industry with 23.6%, and 23% for the agricultural sector.