Ghana’s economy will enter a recovery phase this year as the government is expected to increase expenditure in an election year, rating agency, Fitch, has predicted. – It said the recovery would be driven by stronger private consumption. Going into the 2024 elections; many have expressed concerns that the government would overspend its budget, a […]
The Ghana Statistical Service revealed on Wednesday that Ghana’s economy experienced a 2.9% growth in 2023, marking a decline from the 3.8% growth seen in 2022. Highlighting the specifics, the Statistical Service noted that the final quarter of 2023 showcased the highest real GDP growth rate at 3.8%, mirroring the growth rate observed in the […]
Inflation is expected to decline to 22.4% in January 2024 from 23.4% in December 2023, IC Research has predicted in its latest report. According to the research firm, improved foreign exchange outturn in late December 2023 into early January 2024 would sustain the lid on price pressures. “Our forecast shows a modest decline in the […]
The International Monetary Fund (IMF) is predicting a 15% end-of-year inflation in 2024. It is also forecasting an 8.0% end-of-year inflation in 2025, 2026 and 2027. This means that the increasing prices of goods and services will slow down this year and drastically in the next three years. The revelation was captured in the Fund’s […]
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has stated that Ghana’s economic policies under its programme are beginning to yield the desired outcomes. She emphasised that the policy and reform commitments outlined in Ghana’s deal with the Bretton Woods Institution are in the best interest of the Ghanaian people. In a […]
The government is seeking to borrow GH¢12.7 billion via treasury bills in January 2024, to finance maturing bills. This is 1.2% lower than that of December 2023. Already, the government has raised GH¢3.223 billion in the first auction of 2024, 15.24% more than the targeted amount. Based on the prevailing strong demand at an average […]
The International Monetary Fund (IMF) has given thumbs up to the country’s recovery, saying growth this year has proved more resilient than initially anticipated. “Although all the challenges are not going to be solved overnight, and there is still a lot of work ahead, what makes us very optimistic is that these actions are already […]
Vice President Dr. Mahamudu Bawumia has explained the processes leading to the soaring revenues of the Electricity Company of Ghana (ECG). He said prior to the digitisation of ECG’s operations, the power supply company was making an amount of GH¢450 million a month. That figure of GH¢450 million was constant, and repeated for a period […]
The Asantehene, Otumfuo Osei Tutu II, has urged the government to demonstrate a high level of transparency with the citizenry on the economic situation of the country to win their trust and confidence. He said being candid with the people in the difficult times would produce outcomes that would be in the best interest of […]
President Nana Addo Dankwa Akufo-Addo has said the talks with the International Monetary Fund (IMF) and the 2023 Budget will seek to address the concerns of Ghanaians and inject their aspirations into the management of the economy. He said it was for that reason he had, in the last three weeks, been meeting various stakeholders […]
President Nana Addo Dankwa Akufo-Addo has reiterated his determination to steer the economy back on the path of growth. He has, however, called on the clergy to pray with him in this challenging period to enable him to execute that mandate. The President, who stood in front of the Moderator of the Presbyterian Church of […]
The General Secretary of the New Patriotic Party (NPP), Justin Kodua Frimpong (JFK) has reiterated the party’s support for the government in taking the country out of the current economic challenges. According to him, the party sees Ghana’s current challenges as yet another opportunity for the government to transform the economy. Speaking at a Media […]
