Pulse.com.gh logo
Go


World Bank Ghana's economy getting back on track- World Bank

Ghana’s economy has been experiencing hampered growth since 2012 owing largely to a protracted energy crisis.

  • Published:
World Bank Group play

World Bank Group

The World Bank has projected that Ghana’s economy will see a growth of 4.5% for 2017-2018.

The Britton Woods institution attributes this to rekindled investor confidence in the country’s economy.

Ghana’s economy has been experiencing hampered growth since 2012 owing largely to a protracted energy crisis.

READ MORE: World Bank Ghana increase shares in World Bank

However, relative stability in energy supply and the discovery of new oil fields appear to be rekindling investor confidence in the economy.

The World Bank’s forecast was contained in the World Bank’s bi-annual analysis of economic trends for the African region named Pulse Africa.

Addressing the media, the acting Chief Economist of the World Bank Africa and author of the report, Ms Punam Chuhan-Pole, said the rapid decline in oil and commodity prices had adversely affected resource-rich countries and that signalled an urgent need for economic diversification in Ghana and for that matter Africa.

She, therefore, advised the diversification of the sources of growth, since the drop in commodity prices would not improve anytime soon.

Agriculture, she said, was ripe for transformation with the availability of appropriate technology and requisite human resource.

She also called for the consideration of land and estate taxation as an avenue for raising capital.

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 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
2 Incompetence Otabil wasn't qualified to be Capital Bank Board Chairman...bullet
3 Breaking Otabil finally breaks silence on banking controversiesbullet
4 Salaries In 2018 Here are the dates public workers will be paid in...bullet
5 Education Top 5 private high schools in Ghana according to WAECbullet
6 Banking In Ghana Stranded customers of First Allied Savings &...bullet
7 Nana Appiah Mensah Menzgold CEO invited by EOCObullet
8 Collapsed Banks Here are the auditing firms for the 7...bullet
9 Tax Policy Gov't weighs in on controversial MoMo taxbullet
10 $100K Saga Presidency denies having knowledge of...bullet

Top Videos

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

Business