ADVERTISEMENT

Ghana to miss GDP, inflation and debt targets- IMF

This projection of a 4.5% growth rate  is lower than the Ghanaian government’s own projection of 5.4% for 2016.

 
ADVERTISEMENT

According to the IMF, the slump in Ghana’s economic growth rate is due to poor performance of international commodities, especially crude oil.

The report maintains that " Oil exporters, which include Angola and Nigeria, continue to face difficult economic conditions (with growth for oil exporters as a whole forecast to slow further to 2¼ percent this year from6 percent in 2014), but so do non-energy-commodity exporters, such as Ghana, South Africa, and Zambia".

Inflation

The IMF Report also predicts 12.4% for the end-of-year inflation rate for the end of 2016, 2.3% more than government’s projection of 10.1%

The Fund was also projecting that the debt to Gross Domestic Product (GDP) ratio which stood at 71 percent at the end of December 2016, representing a ¢100 billion, which will increase to 74 percent of GDP by the end of 2016.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh

ADVERTISEMENT