IMF maintains 6.2% growth rate for Ghana in 2022

-

The International Monetary Fund is maintaining its 6.2% forecast of the expansion of the Ghanaian economy in 2022.

This is bigger than the 4.7% growth rate it projected for the country last year.

Though it did not give reasons for the projected high Gross Domestic Product for this year, the expected increase in economic activities, following further easing of Covid-19 restrictions will trigger that.

Improved aggregate demand and supply of goods, exports as well as government and household spending will influence the expansion of the economy, which before the Covid-19 pandemic had been growing at a rate of about 6% on the average.

In its October 2021 World Economic Report, the IMF said Ghana’s economy will grow at a rate of 6.2% in 2022. This is higher than forecasts by research institutions, sighted by Joy Business. The higher growth rate indicates that businesses will be able to generate more revenue from sales and expand into the future.

Industry is expected to pick up this year, whilst the Services and Agriculture sectors are expected to consolidate their gains in 2022.

Comments

Post a Comment

Popular posts from this blog

Publish names of third party dealers involved in ‘Gold for Oil’ programme -CSOs

-
Image
 A group of Civil Society Organizations in the energy sector have called on the government to publish the names of third-party dealers involved in the ‘Gold for Oil’ programme. The call comes after some oil marketing companies (OMCs) withdrew from the programme due to unresolved concerns.  The Ghana Chamber of Bulk Oil Distributors has also expressed concerns about the implementation of the programme. Energy analyst and co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr. Steve Manteaw, said the government must publish the names of all intermediary dealers in the programme to promote transparency.  Speaking on Joy Business, he added that the current mode of the programme creates room for some operators to take advantage of the system. “There is no disclosure in terms of who is financing the domestic gold purchasing in this transaction. We are going to resort to the services of a third party. For instance, who is selling Ghana’s gold? if it’s a broker then t
Read more

Leader of the Movement for Change, Alan Kyerematen calls for support from CSOs in Ghana

-
Image
  Former Trades and Industry minister, Alan John Kwadwo Kyerematen, is calling on Civil Society Organizations to support him in his bid to become the President of Ghana as the country readies for the 2024 general election.     In a meeting held with some CSOs on November 14 in Accra, he shared his vision and plans which he calls the “Great Transformational Plan (GTP)” with all present.   According to Mr.Kyeremnten, the GTP is based on 15 pillars which are characterized into five clusters: economic, infrastructure, social services, environment and natural resources, and governance. He mentioned that the details of the GTP are still being worked on, allowing for more input from stakeholders. Various CSOs in attendance at the meeting, included IMANI Africa, Crusaders against Corruption, Non-aligned Voters Association, Backbone of Good Governance, Parliamentary Network Africa, Coalition of CSOs for African Continental Free Trade Area (AfCFTA), Second Connect Ghana, Africa Education
Read more

I am Ghana's hope - Dr. Afriyie Akoto expresses confidence in leading NPP

-
Image
Dr. Owusu Afriyie Akoto, a contender for the New Patriotic Party's (NPP) flagbearer position, exudes confidence in his quest to secure victory in the party's presidential primary set for November 4, 2023. Dr. Akoto's conviction is firmly rooted in his vision to transform Ghana's agricultural sector through a comprehensive array of policies and programs. He underscores the pivotal role of this approach in reinvigorating the nation's economy and alleviating the persistent challenges faced by many Ghanaians. Addressing the press at his campaign headquarters on Wednesday, September 13, 2023, after securing the third position on the ballot, Dr. Akoto positions himself as a beacon of hope for Ghana's future. He calls upon party delegates to stand firm against intimidation and external influences, urging them to unite with him in their numbers. He declares, "I am more determined than ever to carry the NPP's flag and ultimately secure power for our party. Amon
Read more