Latest News

EconomyWed, 12 Jan, 22

Ghana in Second Position as IMF Projects 2022 GDP Growth for SSA

Ghana in Second Position as IMF Projects 2022 GDP Growth for SSA

Ghana’s Gross Domestic Product (GDP) for 2022 has been projected to be 6.2 percent according to International Monetary Fund’s (IMF) October 2021 World Economic Report released earlier this month. This puts Ghana’s economy in the second place among the Sub-Sahara African (SSA) countries considered.

The Republic of Cote D’Ivoire has the highest projected GDP growth for 2022 of 6.5 percent while the Democratic Republic of Congo and Burkina Faso each has been reported to observe a GDP growth in 2022 of 5.6 percent.

The Ghanaian economy is therefore projected to outperform its peers including Kenya, Nigeria, South Africa and Tanzania with respective projected GDP growth rates of 6.0 percent, 2.5 percent, 2.2 percent and 5.1 percent.

It may be recalled that a 4.7 percent GDP growth rate was projected earlier in last year for Ghana.

The Ghana’s 6.2 percent GDP growth projected is above the continent’s average projected economic growth of 3.8 percent for the year 2022.

Related to the economy, the IMF also forecasts Ghana’s Consumer Price Index (CPI) to end the year with 8.8 percent above the continent’s average of 8.6 percent. The current CPI (Inflation) figure in the country for the month of November stands at 12.2 percent.

Meanwhile, countries such as Equatorial Guinea and Zambia within the Sub-Sahara Region has been projected to grow the least with projections of -5.6 percent and 1.1 percent respectively.

Last but not least, the projection could be re-enforcing the gains the Ghanaian economy is observing especially as provisional figures by Ghana Statistical Service later last years has it that the economy had expanded by 6.6 percent in the 3rd quarter of 2021.

 

Source: Mohammed Bomanso Issah (Real Estate Times Africa)

Welcome, Today is Sun, 23 Jan, 2022

Latest Publication

 The Market

  • Bank

  • Rate

  • Tenure

  • Ecobank

  • 23%

  • Fidelity Bank

  • 22%

  • First National Bank

  • 23%

  • Republic Bank

  • 22%

  • 10yrs

  • Stanbic Bank

  • 20.30%

  • Cement

  • Weight

  • Price

  • Cimaf

  • 50kg

  • GHS 47.00

  • Dangote

  • 50kg

  • GHS 50.00

  • Diamond

  • 50kg

  • GHS 48.00

  • Ghacem

  • 50kg

  • GHS 50.00

  • Pozzolana

  • 50kg

  • GHS 47.00

  • Safe

  • 50kg

  • GHS 47.00

  • Supacem

  • 50kg

  • GHS 47.00

  • Currency

  • Buying

  • Selling

  • GHS - EUR

  • 6.913

  • 7.165

  • GHS - GBP

  • 8.119

  • 8.412

  • GHS - NGN

  • 70.4182

  • 70.4370

  • GHS - USD

  • 6.11

  • 6.33

  • GHS - ZAR

  • 0.383

  • 0.397

  • Current

  • Year Ago

  • GDP Growth Rate

  • 4.64%

  • 0.88%

  • Ghana Reference Rate

  • 14.50%

  • 15.50%

  • Inflation

  • 8.97%

  • 9.87%

  • Policy Rate

  • 13.50%

  • 14.50%

  • T-Bill (182 days)

  • 12.4316%

  • 13.2555%

  • T-Bill (364 days)

  • 13.8773%

  • 16.1134%

  • T-Bill (91 days)

  • 12.6100%

  • 12.4701%

Videos

Opinion

Partners

Feedback Form

We would like to hear from you.
Top