Ghana's GDP Archives - Wontumi Online

04 Mar

Ghana’s Real GDP Growth To Remain Below Pre-Crisis Levels Until 2029 – IFS

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The Institute for Fiscal Studies (IFS) has projected that Ghana’s real GDP growth will remain significantly below pre-crisis levels until 2029, raising concerns about job creation and employment generation. According to the economic think tank, the country’s GDP growth rate is expected to range from 4.0% to 5.0%, with an average rate of 4.4% between 2024 and 2029. Given Ghana’s high unemployment rate, especially among the youth, the IFS has urged the incoming government to implement strategic interventions to boost economic growth beyond these projections. “The Institute is, however, aware of the country’s weak fiscal position. We therefore recommend that…

19 Oct

State Enterprises Increase Contribution To GDP

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The contribution of state owned enterprises (SOEs’) to gross domestic product (GDP) has increased from GH¢10 billion in 2020 to GH¢58.27 billion in 2022. The total assets of SOEs captured in the consolidated National Account also increased from GH¢51.8 billion in 2020 to GH¢ 419.2 billion in 2022. The Director-General of the State Interests and Governance Authority (SIGA), Edward Boateng, who made this known, said the improvement was due to the increase in the number of entities complying with financial reporting requirements, among other efforts by SIGA, to make SOEs profitable. Mr Boateng was speaking at an editors’ forum in…

30 Jan

Analysis: Ghana’s GDP Growth For 2022 Lags Behind Other African Countries – AfDB

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The African Development Bank (AfDB) has released its latest economic report, which shows that Ghana’s GDP growth for 2022 was 3.6%, 1.8 percentage points below what was secured in 2021 (5.4%). While this is still positive growth, it is lower than the average for other African countries. According to the report, several countries on the continent saw GDP growth rates above 5%, with some even surpassing 7%. This highlights a growing divide between the economic performance of different nations in Africa. 2022’s top African growth performers were Seychelles (8.3%), Rwanda (6.9%) and Kenya (5.5%). Before AfDB’s report, the International Monetary…

05 Oct

Ghana’s Debt To Hit 104% To GDP- NPP’s Ebenezer Doku Says Government Can Account For It Borrowings

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The Greater Accra regional Director of research and elections for the New Patriotic Party (NPP), Mr. Ebenezer Doku has said the NPP can account for its debt as compared to the National Democratic Congress (NDC). Speaking to Kwaku Dawuro on Movement In The Morning With Kwaku Dawuro, Mr. Doku said that ‘’very soon our debt to GDP will hit 104%, there is a reason to worry because that is not how we want it. However there was a time we got a government in power who was borrowing but there was nothing to show for. As a speak, several children…