Fiscal Balance in Ghana

Ghana Fiscal Balance | Economic News & Forecasts

Ghana - Fiscal Balance

The economy is likely being hard hit in the second quarter by evaporating domestic and foreign demand amid the global pandemic. According to PMI data, activity contracted at the steepest rate on record in April due to falling output, new orders and purchasing activity. Moreover, private consumption will be suffering amid job losses and intensifying price pressures; inflation reached an over two-year high in April. The external sector, meanwhile, will be feeling the pinch from weakened global demand for oil and low oil prices due to an oversupplied market. More positively, however, prices for gold and cocoa—two other key exports—have risen recently, which should be supporting exports somewhat after they dropped at the sharpest rate in 15 months in March. The lifting of the national lockdown in late April, a USD 1.0 billion loan from the IMF and government measures—including most recently USD 170 million to support business—should also be beginning to provide some respite to domestic activity.

Ghana - Fiscal Balance Data

2015   2016   2017   2018   2019  
Fiscal Balance (% of GDP)-5.3  -6.9  -5.0  -3.8  -4.5  

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Note: General government balance as % of GDP
Source: IMF

Ghana Facts

Value Change Date
Exchange Rate5.700.0 %Jan 01
Stock Market0.10.0 %Dec 31

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