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01.06.2005 Business & Finance

GPRS two projects 6% growth for the country


Wa, June 1, GNA - The Second Ghana Poverty Reduction Strategy (GPRS II) prepared by the National Development Planning Commission has projected an average growth rate of six per cent for the country between 2006 and 2009.

This has been captured in a document made available to participants at a workshop on GPRS two organised by the Commission for senior public servants at Wa on Wednesday.

The document is the blue print for the second GPRS, which aims at moving the country from stability to growth for it to become a middle income country with a per capita income of 1,000 dollars. The workshop formed part of a five-week nationwide consultation programme drawn by the Commission to get public input at the national, regional and district levels in shaping various aspect of the GPRS. It said agriculture would continue to be the backbone of the country's growth while the cedi was not expected to depreciate more than four per cent against one US dollar from the 2004 rate of 9,020 cedis per one US dollar

The Commission, therefore saw accelerated development of agriculture as a growth point that would create employment, enhance food security and end poverty.

The document stated that historical performance showed that the growth rates projected were achievable, once the incentive structures were right and the policy regimes were in place with supporting services.

GPRS Two would further emphasise on the reduction of the population growth rate and pursue activities that would lead to a better redistribution of population in the country.

Mr Ambrose Dery, the Upper West Regional Minister, who opened the workshop, noted that the population of the country living below the poverty line of one dollar per day, declined from 42 per cent in 1997 to 35 per cent in 2003.

It was clear from the development, he noted, that GPRS One, which was implemented between 2003 and 2005 achieved its objectives.