03
May
Ghana’s current account deficit is expected to narrow to 1.9% of Gross Domestic Product in 2023, UK-based Economist Intelligence Unit has revealed. It is also forecasting a further drop in the current account to 1.1% in 2024 as international prices for refined fuel imports decline from their 2022 peak, whilst contracting domestic demand in 2023 and more stringent regulations on imports suppress the import bill. The deficit will however widen in 2025-27, reaching 2.7% of GDP in 2027, as the primary income deficit grows. “Although export earnings from gold and cocoa (which are among Ghana’s major commodities) will rise, revenue…