Ghana Economic Outlook
December 18, 2017Economic activity gained ground in November as improving conditions in the domestic economy boosted demand. Exports of gold, cocoa and oil surged in the month, pulling the trade balance out of deficit. While the economy is undergoing a fast-paced recovery after falling commodity prices swerved growth off track last year, a heavy public debt burden threatens to disrupt long-term stability. To help restructure the high debt load, the export-oriented nation sold GHS 5.29 billion (USD 1.16 billion) in long-term bonds on 30 November. Aside from issuing a new five-year bond, the sale was largely comprised of a reopening of existing bonds. Moreover, as part of the government’s commitment to rebalancing the country’s finances, multiple public sector reforms have been planned for next year. The reforms will seek to eliminate bureaucratic hurdles to efficient public service delivery, which should in turn better support the development of the private sector.
Ghana Economic GrowthA robust performance in exports and higher investment flows should buoy growth in 2018. The economy’s elevated public debt burden and a high level of non-performing loans in the banking sector pose downside risks to the outlook, however. FocusEconomics panelists expect GDP growth of 6.8% in 2018, which is up from last month’s forecast, and project it moderating to 6.0% in 2019.
Ghana Economy Data
5 years of Ghana economic forecasts for more than 30 economic indicators.
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|Exchange Rate||4.46||0.0 %||Dec 06|
|Stock Market||0.1||0.0 %||Dec 06|
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Ghana Economic News
December 13, 2017
In November, consumer prices matched October’s 0.9% month-on-month rise.
December 6, 2017
The composite Purchasing Managers’ Index (PMI), sponsored by Stanbic Bank and produced by IHS Markit, gained traction in November, rising to 54.8 points from 53.7 points in October.
November 27, 2017
Market analysts, who had expected the rate to be held steady, were taken by surprise when the Bank of Ghana (BOG) cut the monetary policy rate by 100 basis points to 20.0% at its 27 November monetary policy meeting.
November 8, 2017
In October, consumer prices rose 0.9% over the previous month after coming in flat in September.
November 3, 2017
The composite Purchasing Managers’ Index (PMI), sponsored by Stanbic Bank and produced by IHS Markit, fell to 53.7 in October, down from 56.5 in September.