The Head of Research at Standard Chartered Bank for Africa Razia Khan is warning that 2016 will be a tough year for Ghana.
Her prediction is influenced by the likelihood of the government taking some tough measures which are expected to stabilize the economy next year. The country’s development partners and institutions like the World Bank and IMF have all projected that things will pick up for the economy, in terms of growth.
But Razia Khan tells Joy Business some of the measures that government is expected to implement like cutting expenditure aggressively will rather bring hardship on Ghanaians.
“It is certainly going to be a very tough year for Ghana…we don’t know if the fiscal consolidation being suggested can actually be achieved,” she said.
“For a country that not so long ago was running a deficit in double digit of GDP to almost half that level it is a big task…
“We do expect that inflation in Ghana will rise, we are forecasting an average of 18.6 for the whole year thereabout,” Razia Khan predicted.