Fiscal Balance in Ghana

Ghana Fiscal Balance | Economic News & Forecasts

Ghana - Fiscal Balance

The economy ended 2018 on a softer note, with growth decelerating in Q4 on the heels of an impressive Q3 outturn. Despite the deceleration, which was chiefly driven by a downturn in the oil and gas sector, the overall expansion remained sturdy, thanks to robust non-oil sector activity growth. Turning to 2019, momentum seemingly weakened again in the first quarter. The cedi’s sharp dive against the U.S. dollar, coupled with still-high inflation, likely weighed on private consumption growth in Q1. Significant volatility in the foreign exchange markets, particularly from mid-February onwards, also likely weighed on investment activity in the quarter. On the external front, metrics were also rather bleak: Merchandise exports contracted on an annual basis in Q1, amid lower shipments of cocoa and stagnant gold exports. A slump in imports, reflecting softer consumer demand, shielded the sector from a more significant downturn.

Ghana - Fiscal Balance Data

2013  2014  2015  2016  2017  
Fiscal Balance (% of GDP)-11.1  -10.1  -6.9  -8.7  -5.9  

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

Ghana Facts

Exchange Rate5.410.0 %Jun 13
Stock Market0.40.0 %Jun 13

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