Although Ghana made phenomenal strides in  economic growth, with a record high GDP growth of 14.4% in 2011, it failed to sustain the momentum, thus falling to a lower growth rate than was targeted for the year 2012.

Comparatively, Ghana fared better than other countries in the Sub-Region, growing  about 2 percentage points higher than the average for Sub-Saharan Africa. The world economy continues to suffer, with far reaching consequences. Well into the fifth year of the global breakdown, the financial system is being sustained only by the activities of the world’s major central banks.

The aftermath of the Arab Spring has created more drivers for fragmentation than integration. The Middle East remains the most problematic region geopolitically as the world emerges from the financial crisis. The global economic and financial crisis has called into question the benefits of global-isation. Economic imbalances and social inequality risk have the potential to reverse the gains from globalisation. In many developing countries, people are now more focused on  improving their economic situation, and are not necessarily looking to the existing global powers and institutions to provide them with the best model for doing so.

Click here to download the full overview of the 2012 SGER Report

For copies, contact the Institute of Statistical, Social & Economic Research

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