{"id":237350,"date":"2024-10-23T04:24:09","date_gmt":"2024-10-23T04:24:09","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/23\/imf-projects-3-growth-rate-for-ghana-by-end-of-2024\/"},"modified":"2024-10-23T04:24:09","modified_gmt":"2024-10-23T04:24:09","slug":"imf-projects-3-growth-rate-for-ghana-by-end-of-2024","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/23\/imf-projects-3-growth-rate-for-ghana-by-end-of-2024\/","title":{"rendered":"IMF projects 3% growth rate for Ghana by end of 2024"},"content":{"rendered":"<br><div id=\"article-text\">\n                       \n                        \n<p class=\"wp-block-paragraph\">The IMF projects that Ghana will end 2024 with a growth rate of 3%, according to the World Economic Outlook Report released in Washington, D.C., on Tuesday during the IMF\/World Bank meetings. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This aligns with the Government of Ghana\u2019s forecast of a 3.1% GDP growth rate as stated in the 2024 Budget.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" alt=\"\" class=\"wp-image-10032623864 lazyload ewww_webp_lazy_load\" style=\"width:840px;height:auto\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-23.jpg\" decoding=\"async\" width=\"800\" height=\"450\" data-eio-rwidth=\"800\" data-eio-rheight=\"450\" src-webp=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-23.jpg.webp\"\/><img decoding=\"async\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-23.jpg\" alt=\"\" class=\"wp-image-10032623864\" style=\"width:840px;height:auto\" data-eio=\"l\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>IMF\u2019s Growth Projections for Ghana<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, some IMF officials have indicated to JoyBusiness that these growth figures may be revised before the year\u2019s end, as the World Economic Outlook did not fully account for recent economic developments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A senior IMF official stated, \u201cWe are optimistic that Ghana will perform better in terms of growth by the end of the year than we previously estimated.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" alt=\"\" class=\"wp-image-10032623865 lazyload ewww_webp_lazy_load\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-24.jpg\" decoding=\"async\" width=\"800\" height=\"450\" data-eio-rwidth=\"800\" data-eio-rheight=\"450\" src-webp=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-24.jpg.webp\"\/><img decoding=\"async\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-24.jpg\" alt=\"\" class=\"wp-image-10032623865\" data-eio=\"l\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>World Bank\u2019s Projections for Ghana\u2019s Growth<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The World Bank, in its Africa Pulse Report released earlier this month, projected that Ghana\u2019s growth rate could reach 4% by the end of 2024. This is attributed to a surge in economic activity during the last two quarters of the year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Initially, the World Bank had forecasted a 3.1% growth rate for Ghana in 2024, but recent developments have led the Bank to revise its outlook.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" alt=\"\" class=\"wp-image-10032623866 lazyload ewww_webp_lazy_load\" style=\"width:840px;height:auto\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-25.jpg\" decoding=\"async\" width=\"800\" height=\"450\" data-eio-rwidth=\"800\" data-eio-rheight=\"450\" src-webp=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-25.jpg.webp\"\/><img decoding=\"async\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-25.jpg\" alt=\"\" class=\"wp-image-10032623866\" style=\"width:840px;height:auto\" data-eio=\"l\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>IMF\u2019s Inflation Outlook for Ghana<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The IMF, in the same report, projected an end-of-year inflation rate of 19.5% for Ghana. This is significantly higher than the Bank of Ghana\u2019s target range of 13-17%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" alt=\"\" class=\"wp-image-10032623867 lazyload ewww_webp_lazy_load\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-26.jpg\" decoding=\"async\" width=\"800\" height=\"533\" data-eio-rwidth=\"800\" data-eio-rheight=\"533\" src-webp=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-26.jpg.webp\"\/><img decoding=\"async\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/image-32-26.jpg\" alt=\"\" class=\"wp-image-10032623867\" data-eio=\"l\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">However, the IMF also predicts that inflation could drop to 11.5% by the end of 2025, indicating progress towards achieving single-digit inflation. The World Bank\u2019s Africa Pulse Report similarly expects inflation to reach 11.5% by the end of 2025.<\/p>\n\n                <p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>      \n               \n <!-- Post Tags -->\n                \n\n                        \n\n    \n                                 \n                                             \n                    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The IMF projects that Ghana will end 2024 with a growth rate of 3%, according to the World Economic Outlook Report released in Washington, D.C., on Tuesday during the IMF\/World Bank meetings. This aligns with the Government of Ghana\u2019s forecast of a 3.1% GDP growth rate as stated in the 2024 Budget. IMF\u2019s Growth Projections [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":237351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-237350","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMF projects 3% growth rate for Ghana by end of 2024 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/23\/imf-projects-3-growth-rate-for-ghana-by-end-of-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF projects 3% growth rate for Ghana by end of 2024 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The IMF projects that Ghana will end 2024 with a growth rate of 3%, according to the World Economic Outlook Report released in Washington, D.C., on Tuesday during the IMF\/World Bank meetings. 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