Vice President Dr Bawumia, head of the Economic Management Team)
Ghana is projected to become the fourth fastest growing-economy in Africa, according to the International Monetary Fund (IMF).
The country is likely to achieve 7.6 percent Gross Domestic Product (GDP) in 2019.
The projected growth rate is higher than the 6.3 percent GDP growth rate in 2018, according to the IMF.
“Ghana is an economic powerhouse in West Africa with a GDP size of approximately $51 billion.”
It would be recalled that the IMF’s board set March 2019 for Ghana’s final programme review under the Extended Credit Facility (ECF) before exit following a week’s assessment of the economy.
Meanwhile, oil-rich Libya is due to become the fastest growing economy in Africa with a GDP growth rate of 10.8 per cent this year.
Libya’s currently has a GDP of over $50.95 billion.
Ethiopia and Rwanda, which were the first and second fastest-growing economies in Africa in 2018, are expected to grow at 8.5 per cent and 7.8 per cent respectively this year, making them the second and third fastest-growing economies for 2019.
The projections are contained in IMF’s recent global report in which it projected a 7.6 per cent GDP growth rate for Ghana in 2019, 6.3 percent in 2020 and 6.1 percent in 2021 respectively.
By Jamila Akweley Okertchiri