Pulse.com.gh logo
Go


International Monetary Fund 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.

  • Published: , Refreshed:
International Monetary Fund play

International Monetary Fund

 

The International Monetary Fund, in its Regional Outlook Report is predicting  that the Ghanaian economy will see a 0.5% growth above the 4% growth rate for 2015.

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

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

READ MORE: IMF Research Fighting corrupting critical for economic growth- IMF staff paper

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.  

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 2018 Budget Review Prepare to pay 35% tax if you earn 10k and abovebullet
2 Taxes In Ghana Don't rejoice; VAT has been hiked through ‘backdoor’ –...bullet
3 2018 Budget Review Gov’t imposes tax on luxury vehiclesbullet
4 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
5 Kwabena Duffuor Official: Duffuor’s assets not being auctionedbullet
6 Economy Of Ghana Finance Minister presents mid-year budget...bullet
7 Investment banks in Ghana Top 5 investment banks in Ghana...bullet
8 Uche Ofodile Captain Planet’s wife heads MTN Liberiabullet
9 Full Text 2018 mid-year budget review presented by Ken...bullet
10 Education Top 5 private high schools in Ghana...bullet

Top Videos

1 New Discovery Ghana discovers new mineral, lithium in commercial quantitiesbullet
2 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 Money Alert Meet Africa's richest womanbullet
5 Tech 6 reasons you should buy an iPhone SE instead of any of the...bullet
6 Support Finance minister buys Kantanka carbullet
7 Plane Crash Starbow suspends operations following plane crashbullet
8 Bozoma Saint John 10 quotes from Uber top official,...bullet
9 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet

Business