28.2 C
Accra
Monday, October 18, 2021
No menu items!

Ghana’s Economy expected to grow by 4.7 percent in 2021 – IMF

Must Read

Septuagenarian Afua Akoto receives assistance from GBC

By: Beatrice Senadju GBC News has paid a surprise visit to Septuagenarian, Afua Akoto in the Ashanti Region. Afua...

GBC trains some staff of Liberian Broadcasting Service

By: Celestin Avi Some staff of the Liberian Broadcasting Service, the public broadcaster in Liberia, have ended a five-day training...

Oblogo M/A Basic and JHS in need of educational infrastructure

By: Oforiwa Darko The story about the quality of basic education and its impact on the future of the pupils...

The International Monetary Fund IMF has projected 4.7 percent economic growth rebound in 2021 for Ghana in its 2021 Executive Board Consultation with Ghana.

In an article publish on July, 19, 2021, IMF indicates that, the government response helped contain the pandemic and support the economy.

According to IMF “An economic recovery is underway. Growth is expected to rebound to 4.7 percent in 2021, supported by a strong cocoa season and mining and services activity, and inflation remaining within the Bank of Ghana target.

The current account deficit is projected to improve to 2.2 percent of GDP, supported by a pickup in oil prices, and gross international reserves are expected to remain stable. The 2021 budget envisages a fiscal deficit of 13.9 percent of GDP in 2021, including energy and financial sector costs, and a gradual medium-term fiscal adjustment which would support a decline in public debt starting in 2024”. It says.

“The Ghanaian Cedi remained stable against the US dollar, partly due to central bank intervention, and gross international reserves remained at 3.2 months of imports. External and domestic financing conditions tightened considerably at the start of the pandemic, but have improved since, and Ghana successfully returned to international capital markets for a US$3 billion Eurobond issuance in March 2021” It added

CLICK ON THIS LINK FOR DETAILS

Richmond Mortty Bediako

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Septuagenarian Afua Akoto receives assistance from GBC

By: Beatrice Senadju GBC News has paid a surprise visit to Septuagenarian, Afua Akoto in the Ashanti Region. Afua...

GBC trains some staff of Liberian Broadcasting Service

By: Celestin Avi Some staff of the Liberian Broadcasting Service, the public broadcaster in Liberia, have ended a five-day training programme at the Ghana Broadcasting...

Oblogo M/A Basic and JHS in need of educational infrastructure

By: Oforiwa Darko The story about the quality of basic education and its impact on the future of the pupils may be good for some...

World Food Program, Japanese Govt. support Ghana’s nutrition improvement campaign with $4.5Million

By: Yvonne Atilego To support Ghana’s nutrition improvement drive, the Japanese Government and the  World Food Programme have signed a 4  point 5 million dollar Agreement. The initiative,...

Mahama in Central Region, still pushing for electoral reforms

Former President John Dramani Mahama, says even though the National Democratic Congress (NDC) was not happy with the conduct of the 2020 elections, it...

More Articles Like This