thing which all of us tried to concentrate on, is the non-real GDP growth. This was because of the Dutch disease. When we box all the growth rates together, but do not separate the non-GDP growth, we might be misled to believe that, the economy is actually doing well, but the Dutch disease may eventually catch up with us.
Mr Speaker, we do not also operate in isolation. We operate within a sub-region and a global world. So, whatever happens in the global world has a consequential effect on our economy.
Mr Speaker, in 2016, the Sub-Saharan African economy weakened. Growth in the region is estimated at 1.6 per cent, compared to 2.4 per cent. In West Africa, the economy even contracted by 0.2 per cent.
Mr Speaker, so what happens in West Africa would certainly have an effect on Ghana; but more importantly, we deal with the issues that happened here in Ghana. If we take the petroleum sector, the January, 2017 estimate from the World Bank indicated that crude oil price averaged at about US$43 per barrel, but we had projected US$45. So, it means that, in terms of actual revenues from the sale of crude, we had limited inflows.
In addition to that, production itself went down quite considerably because of the turret bearing. The underperformance of petroleum revenue was largely due to the downturn arising from the damage to the turret bearing as well as the price.
Mr Speaker, the receipts in 2016 were 37 per cent lower than 2015, and so revenues alone went down by as much as 40 per cent from petroleum receipts. Despite all these challenges, the non-oil GDP grew at 4.6 per cent.
Mr Speaker, now fast forward to 2017. From the Budget Statement, paragraph 31, the Hon Finance Minister said that, the global economy is expected to witness improvements in 2017. Sub-Saharan African economy is expected to grow by 2.8 per cent in 2017.
Mr Speaker, commodity prices; paragraph 36 of the Budget Statement states that, crude oil prices are expected to average at US$56 per barrel. So from US$43, crude oil is expected to hover around US$56, but more importantly, production would take us to 123,416 barrels per day, up from 88,000 barrels. So, production is expected to grow from 88,000 barrels to 123,416 barrels. Price is expected to increase from US$43 to US$56. Mr Speaker, it means that, we have a double injection in terms of the positives.
The industry sector is also expected to recover. Total receipts from petroleum are estimated at 1.2 per cent of GDP; an amount of GH¢235 million.
Mr Speaker, the electricity sub-sector in 2016 grew as much as 8.8 per cent compared to a contraction of 12 per cent in 2015.
All these positives and inflows, the growth or Asempa Budget Statement -- the Hon Minister for Finance tells us that, the non-oil GDP growth rate is expected at 4.6 per cent. This is the same as ours, despite all the challenges we had. Despite the downturn, the crude oil reduction and all that, we grew the non-oil GDP at 4.6 per cent.
Mr Speaker, with all these positives and all those so-called capital injections -- One District, One Factory and One Village, One Dam. When we add all of that, the economy is expected to grow by only 4.6 per cent. So effectively, the economy could be said to stay stagnant.
Mr Speaker, let me now go to energy. A total of 880 megawatts of power capacity was added to the country's installed capacity. This is in paragraph 458; this is what the Hon Minister told us. I am not saying it, Mr Speaker, that under President John Dramani Mahama, we added --