Ghana Economic Outlook
October 18, 2016Ghana’s economy slowed down in the second quarter of 2016 and grew 2.5% from the same quarter last year, after it had picked up to 4.8% growth in Q1 2016. A strong drop in the industrial sector was behind Q2’s deceleration, while the agricultural and service sectors expanded. In more positive news, on 23 September, Moody’s upgraded the country’s credit outlook from negative to stable, while it kept the rating unchanged at B3. The rating agency valued positively the significant reduction in the country’s fiscal deficit, supported by the IMF’s Extended Credit Facility (ECF), and the improvement in government liquidity, thanks to USD 750 million raised on the Eurobond market. Moreover, on 28 September, the IMF completed its third review of Ghana’s economic performance, which will enable the fund to disburse the third tranche of its ECF program, which is about USD 116.2 million.
Ghana Economy Data
5 years of Ghana economic forecasts for more than 30 economic indicators.
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|Exchange Rate||3.97||-0.23 %||Oct 26|
Ghana Economic Growth
October 18, 2016Ghana’s fiscal situation remains difficult, but the consolidation program is bearing fruit and will likely alleviate the public debt burden. Moreover, the implementation of important infrastructure projects is expected to lighten the energy crisis and bolster economic growth in 2016. Analysts expect the economy to grow 4.0% in 2016, which is down 0.1 percentage points from last month’s forecast. The panel forecasts growth of 6.4% in 2017.
Ghana Economic News
October 12, 2016
In September, consumer prices increased 0.17% from the previous month, which contrasted August’s 0.61% drop.
September 28, 2016
In the second quarter of 2016, GDP expanded 2.5% over the same quarter of the previous year.
September 19, 2016
At its 16 September monetary policy meeting, the Bank of Ghana (BOG) decided to keep its monetary policy rate unchanged at 26.00%, the highest level on record.
September 14, 2016
In August, consumer prices decreased 0.61% over the previous month, which contrasted the 0.84% rise logged in July.
August 11, 2016
In July, consumer prices increased 0.84% over the previous month, which was down from the 1.36% rise tallied in June.