Browsing: Ghana economy

The Central Bank claimed that, the sustained reduction in inflation since August 2023 can be credited to the proactive efforts and measures it took to address hyper inflationary and restore macro-economic stability. 

The flagbearer of the National Democratic Congress (NDC) made the commitment after he accused the current NPP-led administration for recklessly damaging Ghana’s economy that has brought untold hardship to the people. 

IMF is a key player in global finance, offering monetary assistance to governments suffering economic difficulties.

Of course, my determination to transform Ghana’s economy into a 24-hour working economy featured prominently in the conversations.

This is evident by the half year average growth rate of 3.2 percent recorded in 2023 compared to 2.9 percent recorded for the same period in 2022.

Guided by the medium-term policy objectives, the government is targeting a moderate real Gross Domestic Product (GDP) to grow at an average rate of 2.8 percent in 2024-2027. 

The government has projected a Non-oil Domestic Revenue of 15.1 percent of GDP in 2024 against a total revenue and grants of 16.8 percent of GDP.

IMF board approval of the first review, which would permit a US$600 million disbursement, is pending on an agreement between Ghana and the OCC.

They believe it ‘could be the game-changer’ and asked to know a lot more about this ‘great idea’.

Adnan Adams Mohammed Ghana’s fiscal deficit-to-Gross Domestic Product (GDP) ratio is estimated to record 4.6 percent…