Ghana’s Economy Surprises With Fastest Growth Rate in Two Years

Vendors wearing protective face masks wait for customers at a market in Accra, Ghana, on Tuesday, Oct. 23, 2020. Ghana is missing out on a rally of African bonds as investors fret about an expansion in spending and borrowing ahead of elections in December. Photographer: Cristina Aldehuela/Bloomberg , Bloomberg

(Bloomberg) — Ghana’s economy grew at the fastest rate in two years in 2021 beating forecasts by government and the International Monetary Fund after a better-than-expected fourth quarter.

Gross domestic product grew 5.4% last year, government statistician Samuel Kobina Annim told reporters Wednesday in the capital, Accra. That compares with a Finance Ministry estimate of 4.4%, the presidency’s 5.3% and an IMF projection for 4.2% growth.

GDP expanded 7% in the three months through December from a year earlier, compared with a revised 6.5% growth in the prior three months. The growth rate exceeded the 4% median estimate of six economists in a Bloomberg survey.

Bloomberg

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