As the Ghana Statistical Service has explained, re-basing is an exercise that needs to be undertaken regularly to maintain a realistic measure of economic developments. The new base year selected for this purpose is 2006, thirteen years since the last one.
In the 17 years since the base year was last revised, the GSS is saying that we underestimated the expansion in our national output by about 4 per cent per annum. On the surface of it, the rebased numbers give us much concern than comfort. It shows that we need to do more to really consolidate our position as a middle income country.