By the end of 2024, the International Monetary Fund, IMF predicts a 3% growth rate for Ghana.
The World Economic Outlook Report, which was presented Tuesday during the IMF/World Bank meetings in Washington, D.C., predicted that Ghana will have a 3% growth rate by the end of 2024.
The IMF and World Bank meetings coincided with its publication, which supports the government’s 2024 budget prediction of a 3.1% growth rate.
On the other hand, given their recent economic changes were not completely taken into account in the World Economic Outlook, several IMF officials have told Joy Business that these growth rates may be changed before the year ends.
“We are optimistic that Ghana will perform better in terms of growth by the end of the year than we previously estimated,” said a senior IMF official.
According to the World Bank’s Africa Pulse Report, which was published earlier this month, Ghana’s growth rate may hit 4% by 2024.
The latter two quarters of the year saw a spike in economic activity, which is to blame for this.
This is attributed to a spike in economic activity in the year’s last two quarters.
In the same study, the IMF predicted that Ghana’s inflation rate would be 19.5% by the end of the year. This is far higher than the 13–17% goal range set by the Bank of Ghana.
The IMF does, however, also forecast that inflation may reach 11.5 percent by the end of 2025, showing that single-digit inflation is becoming a reality.
Source:Mybrytfmonline.com/Joy News
