The International Monetary Fund (IMF) is predicting Ghana’s economic growth will slow down to a rate of 3.8 percent in the next five years.
\nAccording to fund’s latest Economic Outlook Report, Ghana will record a growth rate of 4.8 percent this year and an end of year inflation rate of 12.3 percent.<\/p>\n
The report provides analysis and projections of the IMF\u2019s surveillance of economic developments and policies in its member countries.<\/p>\n
According to the IMF, Ghana\u2019s economy will this year witness a 4.8 percentage growth in its gross domestic product (GDP).<\/p>\n
This figure is in agreement with projections made by the World Bank but however conflicts with government\u2019s target of 8percent.<\/p>\n
The report projects a further growth in GDP by 5.4 percent in 2015 but a staggering decline to a low growth of 3.8percent by 2019.<\/p>\n
The IMF also projects inflation will steadily fall in the next five years.<\/p>\n
The fund projects an average inflation rate of 13 percent for this year while it expects the year to end at a rate of 12.3 percent inflation. Inflation rate however currently stands at about 14.5percent.<\/p>\n
The report pegs next year\u2019s average inflation rate at 11.1percent and expects next year to end with an inflation rate of 9.8 percent.<\/p>\n
This projection is in agreement with the Bank of Ghana\u2019s projection of single digit inflation only by the middle of 2015.<\/p>\n
According to the fund\u2019s projections, Ghana will by the year 2019, have an inflation rate of about 8.1percent.<\/p>\n
The IMF also noted that the current account balance of Ghana will improve over the next five years.<\/p>\n
With records of Ghana\u2019s current account deficit rising from 5.4percent in 2009 through to a staggering 13.2 percent deficit in 2013, the fund indicates the deficit will decline to 10.6 this year.<\/p>\n
It projects a further improvement of the current account balance.<\/p>\n
The report indicates the deficit will decline to 7.8percent in 2015 to 6.7percent in 2019.<\/p>\n
<\/p>\n
By:\u00a0 Kwaku Anim Boadu\/citifmonline.com\/Ghana<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The International Monetary Fund (IMF) is predicting Ghana’s economic growth will slow down to a rate of 3.8 percent in the next five years. According to fund’s latest Economic Outlook Report, Ghana will record a growth rate of 4.8 percent this year and an end of year inflation rate of 12.3 percent. The report provides […]<\/p>\n","protected":false},"author":14,"featured_media":14800,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[21,4],"class_list":["post-14794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-psychiatric","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/14794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14794"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/14794\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/14800"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}