Finance Minister Dr. Cassiel Ato Forson has tasked the Ghana Statistical Service (GSS) to prioritise the rebasing of Ghana's Gross Domestic Product (GDP) and Consumer Price Index (CPI), describing the two statistical exercises as critical to strengthening the country's economic data.

Speaking at a ceremony to officially hand over the former Ministry of Finance building to the Ghana Statistical Service, Dr. Forson said the government expects the GSS to focus its efforts on completing the rebasing exercises over the next year.

"This year, Government Statistician, I know where our focus is. I want to see GDP rebased appropriately, and I know it will take some time to do good work. I'm sure one year from now we will be about finishing, and also the CPI rebasing. That should be our focus for now until the second half of 2027," he said.

GDP rebasing involves updating the base year used to calculate the size and structure of the economy to better reflect current economic activities, while CPI rebasing updates the basket of goods and services used to measure inflation. Both exercises are considered essential for producing more accurate and reliable economic statistics.

The Finance Minister noted that accurate and up-to-date national statistics are essential for effective economic planning, policymaking and assessing Ghana's economic performance.

GDP rebasing updates the reference year used to measure the size and structure of the economy, while CPI rebasing revises the basket of goods and services used to calculate inflation, ensuring it reflects current consumer spending patterns.

The remarks were made as the government formally transferred the former Ministry of Finance building to the Ghana Statistical Service, a move expected to provide the institution with additional office space and strengthen its operational capacity as it undertakes key national statistical programmes